The big story of this past week was the possibility of the dollar being replaced by the global reserve currency but the reports that this topic will not be discussed at the upcoming G20 summit provided a bit of relief.



I don’t think that the US economic date contributed anything to the rally of the USD as it was mixed. The rally was mostly based on overall weakness coming from European economic reports and the expectation of the ECB cutting interest rates.



Other lesser factors contributing to the rally: the US equity futures trading down and the Japanese buying Yen and selling all other currencies ahead of their March 31st fiscal year end.