Yuan is going to get 're-valued' and Asian currencies are going to strenghten sharply (Yen). Euro will strengthen a bit in sympathy but basically it takes pressure off the euro-zone currencies (currently they are the only freely floating currencies to sell against the $$-i'm including GBP, CHF, etc.). Selling Eur/Yen is the trade. Just my 2 Pfennings worth.
Commodities are off sharply (in U.S. $); this is a Dollar rally more than a Euro correction. Probably a short squeeze compounded by Europe's and Japan's ongoing struggles to get their respective currencies down (counter to the Fed's agenda). The Fed vs the World plus the Billionaires playing the Millionaires - pretty volatile mix. This could get brutal.
4 Mar. 04 12:45 (GMT) ECB Announces Rates (EU) www.ecb.int WAP mobile device address: http://www.ecb.int/ws.wml PDA address: http://www.ecb.int/wspda.htm
ecb and boe say no change but that still didnt bring in any buyers. the dollar is sitting of its highs and probably will continue good luck all