The US dollar remains sensitive to moves in Dow Jones Industrial Average.

The euro crossed an important threshold last week, violating the series of lower major tops and bottoms.

US dollar bulls were disappointed to see a lack of follow-through on the post-NFP dollar rally.

The US dollar finished the week roughly unchanged against major counterparts, holding key lows against the euro despite impressive gains in the US S&P 500 and broader risk sentiment.

The euro defied expectations and set fresh highs against the downtrodden US dollar, fueled by a late recovery in financial market risk sentiment and expansion in emergency measures to contain regional sovereign debt crises.

The US dollar finally showed signs of life through the past week of trading, initially bouncing noticeably against the euro and other currencies before pulling back into Friday’s close.

The euro finished the week sharply higher against major counterparts, boosted by a dramatic improvement in European yield forecasts and broader US dollar weakness.

The US dollar finished the week lower against almost all G10 counterparts, continuing its multi-month downtrend ahead of a critical week of economic event risk.

The US dollar recovered sharply against all G10 counterparts through the past week of trading, setting the stage for a broader Greenback recovery after registering bearish sentiment extremes following months of declines.

The euro saw a potentially significant reversal against the US dollar through late-week trade, threatening a larger correction as it failed to hold highs and finished lower through Friday's close.