So much for the sub-$1.00 Euro that some forecasters were calling for at the start of 2009. One Euro is now back to the level it started at as the New Year kicked off, with a value of $1.3933 currently (May 21).

“FEAR, Mr. Bond, takes gold out of circulation and hoards it against the evil day,” as 007 learns from a Bank of England officer in Ian Fleming’s Goldfinger (1959).

EURO/USD is expected to swing and rise for the day; EURO has made the higher level consolidation and made the drop as expected from 1.3721 to 1.3556 area yesterday.

THE PRICE OF PHYSICAL GOLD rose to its best level since April 1st in London trade on Wednesday, gaining 0.5% to $928 an ounce before slipping back on a bounce in the Dollar.

The British Pound has quietly surpassed $1.50, after holding in the $1.45-1.48 range since the first week in April.

The Dollar continued its upward correction as a rise in stock markets and better than anticipated economic data fueled further risk-taking in the forex market.