Talk that the ECB and Fed would conduct emergency rate cuts made the rounds earlier but that talk has faded, allowing EUR/USD to rebound to the 1.4640s. markets remain thin and whippy as few are willing to take large positions until package is finalized in Washington. The ECB would be going against type to ease as a result of the financial crisis after months of rhetoric about their “single-needle compass”, but Weber seemed to be warming to the idea earlier today.