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The US has put itself in too precarious a position, and despite their 30% fall versus the other currencies over the past 5 years, and despite that they have seemed to have stabilised over the last year... somewhat, I believe that the US dollar will continue to fall. Relative to this fall, the Euro will appear to strengthen, while it will actually just be holding its ground when comparing it to other strong currencies. To start with, in 2008 the mortgage boom of 2005-2006 will come back to smack America across the face as all the 2005 3-27s and the 2006 2-28s begin to have spiked increases in their repayment amounts. Can we say forclosures! I'm not sure in a historical sense what a circumstance like this has had on the country's currencies, but it can't be good?