The US Dollar’s descent moderated last week as traders shifted back into risk assets, ditching the safety of the world’s reserve currency. Still, measured by the DXY Index, the Greenback remains well above levels traded at just a couple of months ago. A pullback in recession fears appeared to be the main driver of weakness. Given the precarious global economic backdrop, those fears may resurface without warning. That said, the risk-taking seen last week is on shaky ground.