The US dollar sold off sharply on Thursday dropping to its weakest level against the Japanese Yen since September 2019. The greenback also resumed its rise versus euro and sterling with EUR/USD knocking on 1.12’s door. Its been a brutal week for the greenback in general as the trade weighted Dollar Index drops more than 3% from its February high. A large part of the decline can be attributed to the Federal Reserve who sparked speculation of a rate cut last week and followed through with a 50bp move on Tuesday. While the market is pricing in further easing in April, some investors are holding out hope that Friday’s ... (full story)