All of the G10 currencies weakened against the dollar last week, and six fell by more than 1%. With the help of an explicit threat to intervene by Japan's Ministry of Finance, the yen bounced almost 0.7% before the weekend and lifted off the 10-month low. The Swiss franc was the weakest of the major currencies last week, losing about 1.75% against the dollar. It appears that the yen and Swiss franc replaced the dollar as the short leg of some carry trades. Meanwhile, the greenback's firmer tone did not coincide with higher or US interest rate. The odds of a December Fed cut slipped below 30% last week but after NY ... (full story)