(11:00 GMT - 10/12/07)
The US economy is the focus of this week as it will propel some significant fundamentals into the market starting with the FOMC decision, where a 25bp cut is expected in the markets and another 25 points on the discount rate in attempt to handle the credit crisis.

The euro started its morning secession fluctuating within narrow ranges then gradually started to incline against the US dollar to record a high of 1.4681 and a low of 1.4639 taking the affect taking the position of a lock in 25 basis points.

The GBP followed the same foot steps of the Euro today but for different reasons. The Pound started its trading day fluctuating within narrow ranges then gradually inclined as orders were set after the pound reached a saturated level with buying orders for reaching an oversold area; pushing in role the pair to record a high of 2.0429 and a low of 2.0310.

The yen is now slightly dropping against the US dollar after fluctuating within narrow ranges this morning pushing the pair to the upside to record a high of 111.86 and a low of 111.48

Markets are awaiting for important fundamentals coming up this week, with PPI and CPI indices confirming whether it was a good decisions were made by the FOMC and are we still to see more rate cuts if inflation threats remain anchored.