The Euro has hit 1.60 against the USD 4 times, and the latest attempt this week failed. There is a general sense that markets are past the worst of the credit crisis, but that may be wishful thinking. The British pound has been falling in sympathy with the dollar of late.

The world’s favorite carry trade currency, the Yen, has been falling again because of the recent sense of calm. But don’t get complacent - things may not have bottomed yet.  According to people like Jim Sinclair (see Blogroll), we are nowhere near the bottom, nor the top of the Euro.