No respite for the US dollar after soft retail sales.
The US dollar is making fresh lows against the euro and yen as selling ramps up. Treasury yields and stocks are now in negative territory as the 'bad-news-is-good-news' theme fades.
Plain and simple, the US dollar trade is overcrowded and the people who thought soft data in Q1 was just weather and other one-off items are having second thoughts.
