The news that Bank of America will be plowing $2 billion into Countrywide Financial Corp was supposed to be very bullish for the financial markets, but the move in the Dow today was far from impressive.

The US dollar continued on its overall downtrend, as continued improvements in risk appetite led the safe-haven currency lower against major counterparts.

The Chinese yuan gained 12 basis points against the US dollar on speculation the People's Bank of China (PBOC) will continue to increase interest rates to curb inflation.

The recent plunge in USD/JPY which shaved nearly 1000 points off the yearly highs in a matter of weeks has many currency traders wondering if there is more downside to come.

Toni Hansen doesn't believe that the market is going to again be able to break to new highs on the year, but it also doesn't look as if we are going to get another extreme downside move just yet.

Currency technical analyst Jamie Saettele analyzes the British pound against the Japanese yen, Swiss franc, and Australian dollar.

117.89 is a likely reversal point in the USD/JPY currency pair.

Carry came back with a vengeance as calming news from the sub-prime market and reluctance of BOJ to raise rates beyond the current 0.50% level revived demand for high-yielding currencies across the board.

Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for August 23.

The prosperity that Americans enjoy today is a swindle.