From Bank of America Merrill Lynch:
A good meeting between Presidents Trump and Abe, strong US data, including higher than expected inflation, and a somewhat hawkish tone by Yellen in her Congress testimony supported the DXY early in the week. Then, the index went back where it started, for no clear reason. The latter move may reflect fear of more verbal interventions against the strong USD from the Trump administration, disappointment why the USD did not strengthen even more early in the week, or simply few large flows (from corporates or central banks) that triggered broader USD selling. Risk assets continued to do well in the meantime, with US equities reaching new highs and EM FX appreciating further.
