[Ray G]

The thing is, the USD was already swinging up, then the "non" vote and the fact that the non wasn't really factored in completely. Now, add to that the under lying factors of what the "non" means to the EU overall.

I think it's overblown, but people are already talking about the euro just imploding over this non-ratification event. Actually, the talking-heads were speculating on that before the non vote so now they have fuel for their fire.

Also, the US going gang busters relative to the eurozone, and Japan reporting lowest unemployment in years and its just not a good time to hold the EUR.

Oh yeah, Blair takes his turn as the head EU-guy this week. Great timing. It doesn't actually mean a thing to the EUR, but you know how traders are; it'll be reason enough to cause all kinds of weird things.