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  • Currencies Hold Their Gains...

    In This Issue..

    * Consumer Borrowing Collapses...
    * What's up with sterling?
    * Option ARMs get ready to reset...
    * Gold falls back to below $1,000...

    Good day... And a Wonderful Wednesday to you! Well... The currencies, for the most part, kept the heat on the dollar throughout the day and in the overnight markets. The euro, did rise to 1.45 and change yesterday, while it is hovering right at that figure this morning, so it did give a little bit back.

    There were no big announcements last night like we saw on Monday, so the currencies didn't have anything to push them further. In fact, there may be a 'letting the dust settle' period of time, with the Big Dog, euro, before we see any further advancement, given the euro's huge gains yesterday......