The US dollar fell against all of the G10 currencies last week but the Japanese yen. The softer than expected US CPI and PPI saw the US two-year yield fell by nearly eight basis points. As we show below, in current context, several of the dollar pairs are very sensitive to the changes in short-term US rates, or the like Canadian dollar, the two-year rate differential. Still, as the Middle East war re-escalated, the greenback seemed to catch a safe haven bid. In addition, the pressure on equities, especially in the Ai and tech sector continue to come under strong profit-taking pressures. It is widely recognized that ... (full story)