Last night on Bloomberg TV out of Europe they announced that the CB's in Europe would not be heeding Trichet's words. And that's all it was, words. Looks to me like a market ploy to snatch a few billion out of the currency exchange trade and give the FED the benefit of a successful auction. Then, back to SOP.
The devaluing action, stronger dollar remarks by W, the Treasury and the FED will and are continuing. Imagine that. Watch what they do, not what they say. And, if you're trading anything you've gotta play the trends or suffer through until the end and we're at reality sans the hype and PR.