The State of the Euro

The global financial structure is tottering again. China's and Japan's exports got worse in May, possibly because of the success of dollar devaluation.

The Russian stock market as fallen 24% since June 1st.

Now the FT reports that the ECB Pumps Record E442bn into System. This was in one-year funds. That means that the central banks don't see any inflation for a year. This looks like it's equivalent to quantitative easing for all practical purposes.

Maybe my Euro short will work out after all. This is also my only current play on dollar strength.