This past week we have still been dealing with some uncertainty around Greece but our main uncertainty still surrounds the US Debt Ceiling. The Euro and Swiss Franc have both been rising against the US Dollar but after the European Summit the Swiss Franc has had a tough time making new all time highs. The Swiss franc actually dropped against all of its biggest competitors. European leaders agreed to guarantee Greek bonds in money market operations if a bailout agreement triggers a default. They also announced on July 21 after the end of eight hours of talks in Brussels, on 159 billion Euros in additional aid for Greece. They also won support from bondholders who have agreed to contribute to the package. They also expanded the role of the 440-billion EFSF, euro rescue fund, to buy debt across distressed nations, assist troubled banks and offer credit lines. The renewed faith in the Euro has also pushed the US Dollar Index down. On Thursday the index dropped through support and closed near its lows which is a sign that we should continue to expect more lows. Friday was a day for USD retracement higher and that theme should continue on Sunday and maybe Monday too.