The dollar did try to make its comeback by the positive Bank of America results but lost further ground by the end of the New York session. There maybe a little volatility in the market for US today as American Express market earning reports put pressures on the USD and stock futures. The main outlook for US today is the speech from Treasury Secretary Paulson tonight. The Richmond Fed Index is also being released.
The Euro strengthened slightly yesterday as Oil rebounded and the equity market slowed. There is no data out of the Euro today.
Sterling had another bad future and present outlook as MPC member Blanchflower made comments that the UK was already in recession and HBOS share offering was undersubscribed. The main focus today will be when Bank of England Governor King speaks.