MUFG: DOLLAR STILL UNDERVALUED MUFG says the U.S. dollar remains undervalued against 8 of the 9 other G10 currencies, suggesting extra risk premium is still priced in. The bank cites expectations for a Middle East ceasefire, U.S.-Japan yen intervention, and concerns over Fed independence after reports President Trump has spoken repeatedly with Fed Chair Kevin Warsh. Despite a small rebound, the DXY remains near a seven-week low.(*Walter Bloomberg)