I love the way financial writers have to find a reason behind a particular instrument’s fall. Take this Reuters headline as a case in point. “Dollar falls as recent data boosts optimism” If you look at other markets most of yesterday’s “optimism” has been swept away. Bond futures are up half a point, the Eurodollar strip is up 10 points and Oil is almost a couple of bucks lower, while Stocks are pretty much unchanged. Not much optimism there. As we draw to the close Eur/Usd is consolidating at 1.3965 up around 30 points from the NY open, while Cable steadies at 1.6510 after a rollercoaster of a week.