The Dollar finished the week unchanged versus the Euro and the Pound weakening versus the Yen and gaining versus the commodity linked currencies. The Dollar started the week weaker after the new Greece bailout plan was announced but managed to regain strength after concerns the Greece aid package will falter and Goldman Sachs fraud accusations by the Fed. Volatility returned to the markets with a 14% incline of the VIX following Goldman's accusations and the declines in the equity markets that followed. NASDAQ declined by -1.37% and Dow Jones gained by 0.10%. Crude Oil weakened by -1.98% closing at 83.24$ a barrel and Gold (XAU) dropped by -2.14% closing at 1,136.3$. Looking ahead, Goldman accusation could be the trigger for massive declines as the Fed may call for further restrictions and regulations on banks. Fed Chairman Bernanke will speak in Chicago on Monday. PPI, Existing Home Sales and the weekly Unemployment Claims are all expected better on Thursday. Core Durable Goods Orders and New Home Sales will be released on Friday.

The Euro finished unchanged versus the Dollar after opening the week with a large gap up after a new bailout plan by the EU was announced and declined throughout the week as the new bailout plan seemed to not be effective enough. The fed announcement regarding the lawsuit against Goldman Sachs made the Euro drop as uncertainty reentered the markets. Overall, EUR/USD traded with a high of 1.3692 and a low of 1.3472. EUR/USD's failure to cross above 1.37 and the gap signal the downtrend is likely to continue. Looking Ahead, The Euro is likely to continue being affected mostly by Greece's default concerns and Goldman Sachs news which may trigger stronger demand to the safety of the Dollar and the Yen. German Zew Economic Sentiment and German PPI are expected stronger on Tuesday. Manufacturing and Services PMI are expected on Thursday. German Ifo Business Climate is expected higher on Friday.

The Pound gained by 0.1% versus the Dollar after not being able to sustain its early week gains. Consumer Confidence dropped and a dovish announcement by the BOE regarding the credit conditions and business spending contributed to the decline of the Pound. Goldman Sachs Sec fraud suit contributed to the surge in Risk Aversion. Inflation data this week will be important regarding the next BOE interest rate decision next month that might lead to an ending of the QE program to avoid inflation. Overall, GBP/USD traded with a high of 1.5523 and a low of 1.5335. GBP/USD reached new monthly highs but couldn't sustain its profits. The pair's major trend on the weekly chart continues to be bearish and the Pound could head to its monthly lows at 1.48. Looking Ahead, The upcoming week is full with high impact announcements for the Pound. CPI is expected higher on Tuesday. Claimant Count Change and MPC Meeting Minutes will be released on Wednesday. Public Sector Net Borrowing and Retail Sales are expected on Thursday. Prelim GDP is expected unchanged with 0.4%.