Disaster had been priced into the peso, but they dodged the bullet. It's been a pretty remarkable turnaround. Arroyo deserves some of the credit.

There is ... no sign yet that the ECB is even contemplating unilateral intervention on the euro.

Talk of repatriation started in mid-July, particularly in Asia, ... Asian equities have performed poorly in recent days and therefore money is leaving Asia and returning to the U.S. Investors are looking to take profits to cover the losses elsewhere.

We are not talking about a collapse next year or a recession, but we are predicting a pretty significant fall in prices.

We're having a euro recovery at the moment. But it's all momentum and technical trading.

Australia's dollar is obviously growth sensitive and the market won't muck around in pricing it down when commodity prices fall.