Well he’s on the newswires saying that the USD should be allowed to fall to adjust it’s current account deficit. I don’t disagree with him there but I very much doubt if he’s limit long USD and saying things like that. As we’ve seen in the GBP crosses over the last few days, if the big hedge funds are all tilted one way and then try to get out, the exit door becomes very narrow. If all the big hedge funds are short USD across the board, then we may see similiar occurences in the EUR/USD, AUD/USD, USD/CAD and the like. The great thing about the FX market is that it usually gives you a warning before the really big event arrives. Like an unexpected 200 pip move in one direction which has everyone asking “where did that come from?” Then it becomes a matter of getting on board at the right level and hanging on for dear life after that.