After The germane election results, the market sentiment is still dovish towards the single currency. The results show no encouraging reforms in Germany soon. The currency market eye is turning today to the USD and the fed’s rate decision. We wait to listen to the fed’s language tone and its appreciation of Katrina hurricane impact on growth and on inflation. We have seen a Fed’s appreciation of the inflation impact results in the hurricane Katrina more than its negative growth impact which could help the greenback to cover its loses on the hurricane at the beginning of this month. There can be a consolidation waiting for the comments and we prefer holding. It is a long waited day.