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  • Financial storms claim two more...

    * Financial storms claim two more victims... * Yen and Swiss Francs move back up... * Euro approaches 1.45 before reversing course... * Oil below $100... ** Financial storms claim two more... Good day... The financial storm claimed another victim this weekend as Lehman Brothers Holdings Inc. filed for bankruptcy after being unable to find a buyer. Bank of America, who was rumored to be bidding on Lehman ended up buying Merrill Lynch & Co and AIG Inc. is asking the fed for an emergency loan. All of this financial turmoil has sent the dollar lower vs. most of the major currencies as investors are beginning to realize the situation in the US markets is worse than the rest of the world. Over the past three months, currency traders have rallied the dollar on the basis that the US was in better shape than Europe. They will now need to rethink their strategies, as the past few weekends show just how bad the US financial sector is ailing. And unfortunately, their will likely be more to come. Risk aversion is a popular theme in the markets again, and the purchase of US treasuries actually helped to keep the US$ from falling further....