The US dollar is little changed against the major currencies. It has spent the week largely consolidating the recent moves. After falling against all the major currencies last week, it recovered somewhat against most this week. The main exceptions were the euro and Swiss franc, which have gained less than 0.3%.
The weakest of the major currencies have been the Swedish krona, which has been undermined by the shift in sentiment back toward a rate cut following soft CPI data (deflation) earlier in the week and disappointing consumer and business confidence reports today. The euro has made new highs for 2014 today against the krona as it traded through SEK9.0 briefly.