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* Dollar rallies Big! * Commodities in a free fall... * Yen remains untouched... * Data risk this week... ** An Attitude Change... Good day... And a Terrific Tuesday to you! Welcome to September! I hope you had a Wonderful Holiday Weekend. I sure did! It was the end of 4 weeks of treatments. We have beautiful weather. I enjoyed a day of football on Saturday, with my little buddy Alex, playing Saturday morning, and my beloved Missouri Tigers playing Saturday night. Sunday was fantabulous, as I hung around the backyard, and neighbors and friends all stopped by to spend the day... Just great! I had to rest up my leg yesterday, as it was swelling a bit from all the walking and standing, but back to normal today, so, it's all good! Not so for the euro and other currencies this morning. Front and Center this morning, the euro has fallen further, all the way through the 1.45 handle! Seems that Hurricane Gustav didn't disrupt the Oil production as many had feared, and the price of Oil has fallen $115, after trading as high as $119 on Friday, ahead of the storm. Gold too has taken on gallons of dollar water, and has diluted the price of the shiny metal to $805, after traded near $845 last Thursday. And Commodities? That's not a pretty sight, the free fall of commodities... And thus the Commodity Currencies of Aussie and Kiwi, and even the Canadian dollar have all seen the trap door opened up underneath them by this dollar move....

* Fed not as hawkish as expected... * Markets now turn to ECB and BOE... * Canadian dollar slides... * Aussie hit by 1-2 punch.. ** Fed not as hawkish as expected... Good day...I want to start off today's Pfennig by apologizing for those of you who were waiting to receive their Pfennig yesterday. I sent it off at the normal time, but we had some problems with the program which sends it out, so it was delayed in getting delivered. You can always view the current Pfennig at www.dailypfennig.com where we post it first thing in the morning. That website also has archived versions of past pfennigs for your reading pleasure! They tell me the problem has been fixed, so you should get this pfennig right on time. The dollar drifted higher throughout most of the day yesterday as the markets prepared for the FOMC rate announcement. The sentiment driving the dollar higher was that the Fed would sound much more hawkish in order to keep an overall consensus among the FOMC members. Dollar bulls were expecting a signal from Bernanke that an increase in interest rates would be just around the corner. These higher interest rate expectations encouraged traders to take the dollar index back up to just under 74, a level we haven't seen in almost two months....

* Euro hits 1.52! * Bernanke "endorses" a weak dollar! * Jimmy Rogers on a Fantastico Friday... * A perfect storm for the dollar......