The US dollar and Japanese yen were the weakest of the majors on Monday, as buoyant risk appetite weighed on the low-yielding currencies but lifted carry trades and equities, with the S&P 500 ending the day up 3.39 percent.

Are Americans back to their old ways?

No more 500-point drops in the Dow. No more oil at $149. No more nerve-shattering bankruptcies.

When you martingale into a trade, you add size to you position as price goes against you.

The US dollar's multi-month uptrend was put to the test on yet another week of S&P 500 rallies, and the Greenback looks as though it may finally break through key technical support against the euro and other key counterparts.

It is fitting that the euro is on the cusp of a dramatic trend change considering what is at stake from the fundamental side of the currency this week.

The Japanese Yen is likely to see a nearly empty economic calendar give way to risk sentiment as the dominant force guiding price action once again.

On Wednesday, UK services PMI is anticipated to increase for the fifth straight month in April to 46.3 from 45.5, adding to evidence that confidence is rising.

Perhaps we should look back and see what heroic acts on the part of Congress and the Fed cured that recession so quickly.

US news was broadly disappointing today, as Chrysler filed today for bankruptcy protection in a reorganization effort that will include Italian carmaker Fiat as a partner.