President Trump backed away from threatening to use force to acquire Greenland and dropped the tariffs on several European countries slated to go into effect on February 1. Europe's threat to break from the recent trade agreement with the US was also rescinded. After a rough start to the week, another source of market stress, the sell-off of Japanese bonds, also stabilized. Yet, the dollar found little succor. Japanese officials took another step up the intervention escalation ladder with stronger word cues after the Bank of Japan left policy on hold. While it stabilized the yen, the market seemed comfortable jobbing ... (full story)