 Expectations on the size of next Fed rate hike shifted again last week, with stocks cheering lower than expected consumer inflation reading in the US. Dollar ended as the worst performer but it did have a late come back following rebound in benchmark treasury yields. Indeed, it was the late selloff in Sterling and Euro, the second and third last, that worth more attention. Meanwhile, return of risk-on sentiment lifted commodity currencies with New Zealand and Australian Dollars being the best performer. Swiss Franc was the third with help from buying against other European majors. Looking ahead, countering forces could keep Dollar going nowhere in general. The downside breakout in Sterling and Euro in crosses could take a front seat for the near term at least. | 
