I heard the comment, "Currencies are a Fundamental" by a guest on Bloomberg the other day. I do not even remember who it was. Seems it may have been someone from Bear Stearns. I thought about this a little and I think it is a rather profound statement and may change the way we think about analyzing currencies to some degree. I have no particular opinion on how, just wanted to share it with the group here. Maybe someone can add a more intelligent comment. richard