The dollar enjoyed a decent recovery that has the potential to turn around the prevalent bearish sentiment. The subprime crisis is not remotely over, but there is at least some feeling that the Federal Reserve, the Treasury and the banks are starting to be in control.* At least for a while we have to imagine that inflation will not get any higher while the FED cuts rates again and maybe things will just fix themselves. But it’s nice to see the US indices rallying and the crude oil below $90/barrel again. *I’m not sure for how long this will last, but join the fray for now. *