Dollar rebounded further last week with renewed support over concern on the EUROZONE debt crisis. The USD also saw some strength in US treasury yields.
Egypt's revolution was a factor in driving investors to the safe haven US Dollar too but that should be over as Egyptian President Hosni Mubarak stepped down last Friday and handed power to the military. The resignation ended Mubarak's 30-year rule and protests in Egypt over the past 3 weeks.
One important development to consider was the extended weakness in the Swiss Franc and the Japanese Yen. This could be a signal that investors are returning to carry trades on future interest rates expectations. Read more