The US dollar has been marked lower since the middle of last month. It flies in the face strong growth, rising inflation expectations, and greater conviction that the Fed will continue to raise interest rates this year. Moreover, an oft-cited knock on the dollar, the widening current account, may be offset this year by the impact from US corporations repatriating earnings that have been kept offshore. Another weight on the dollar, some suggest, may be coming from the diversification of reserves. Last week's US Treasury report did show that China and Japan, the two largest foreign holders of US government obligations, ... (full story)