Are cooler heads prevailing after last week’s inflation scare on the back of the announcement of massive new steps to quantitatively ease by the Fed? It would appear. Gold is down about $50 from the $967 highs and rush to dump dollars has slowed and sentiment is starting to stabilize. A move through support down in the 1.3410/15 area will likely see sentiment shift back toward the dollar and away from the euro in the near-term as nothing influences sentiment like price action.