Monetarists to the rescue

Today the Fed cut it's discount rate by 50 basis points to 4.75%.

The Globe and Mail reports that the Loonie is already within a cent of the Greenback.

The International Herald Tribune reports that the Bank of England doubled loans to British banks--$8.8 billion at 5.75%.

The real question is whether the Japanese housewives moonlighting as currency speculators will finally be able to relax after doing the dinner dishes.