If people are looking for excuses as to why the European Central Bank may feel their hands are a little tied in the short-term (on rates) they could use this, but I think there's a whole wealth of information suggesting that things are on the mend.
It's a bit dangerous to be aggressively selling the dollar at the moment. If we're still getting strong economic data it's not clear that U.S. rate increases are going to stop as soon as people think.
The market is correcting Friday's move (after payrolls). People are looking toward Greenspan and waiting to see how the U.S. will react after Labor Day.
People are confused about the United States' stance on the dollar. Until there is a deliberate shift in U.S. policy, the dollar's downtrend could continue.
People are confused about the United States' stance on the dollar, ... Until there is a deliberate shift in U.S. policy, the dollar's downtrend could continue.
People are just uncertain (on U.S. rates) and that sort of uncertainty will make it very difficult to get real directional moves in euro/dollar.
The uncertainty about the German election just tends to put people off buying euro/dollar,
People want to buy Asia ahead of the G7 in case China does anything or there is a change of language. And if you want to buy Asia the yen is a liquid vehicle.