Last week we saw a decidedly mixed dollar tone. The picture has become clearer, the technical tools we use suggest that the dollar-bloc are better positioned than other majors, like the euro, yen, and sterling. The macro backdrop is benign. That is to say, there is strong enough growth to absorb slack in most of the major economies and without generating the price pressures that central banks would see as requiring a stronger response. A few weeks ago, the market ostensibly bought euros and yen on ideas that central banks are exiting there extraordinary easing More recently there has been speculation that the Fed ... (full story)