It was a great week to be long U.S. dollars. The greenback traded higher against all of the major currencies. The Australian dollar experienced the steepest losses but the Canadian dollar and euro also traded sharply lower. The Japanese Yen and British pound were the only currencies that managed to hold steady in face of the U.S. dollar’s gains but they even ended the week slightly lower. Nearly every piece of U.S. data released over the past week from third quarter GDP growth to jobless claims, durable goods, new home sales and the Markit PMI indices were better than expected but good data was not the only reason ... (full story)