We're seeing a weaker dollar mainly because of position covering.

It's good for the U.S. to see a relatively weaker dollar, but it's not a good idea for the U.S. Treasury to signal it wants a weaker dollar. The decline in the U.S. currency could be faster than they wish.

The dollar is recovering because of position-adjustment.

What we are seeing is a reassertion of fundamentals, and the dollar is coming back.

What we are seeing is a reassertion of fundamentals, and the dollar is coming back,

It's easier to name China a currency manipulator now that they have been singled out on an international stage. There is considerable scope for the yen to strengthen.