Dear CIGAs,

Then mindset of the market today viewing the Euro trading at the 1.50 level in consideration of Oral Intervention by Euroland officials yesterday is anticipating concerted intervention to prevent the Euro from rising above that level.

The spin on the Euro at 1.50 is the strength of the world economies coming out of the recession, and therefore the move away from the "safe haven" dollar.

Oral and market intervention in the history of major bull and bear markets in currencies has been useless except in the very short term.

Think about all the banner news articles about Swiss Franc intervention to prevent appreciation, and about how useless it has been.