These days we are constantly hearing about currency wars taking place across the globe. Almost every leading country is trying and racing to devalue their currency in order to boost their exports. Just look at the recent action by the Japanese government and the Bank of Japan (Japanese central bank). The Japanese finance minister actually stated they his goal was to get the Nikkei 225 Index up to 13,000 by the end of March. You cannot make this stuff up. Never before has a prominent government figure made such a comment. ...

In contrast to the "Lehman 2.0" viewpoint, some argue a Greek default could actually be bullish for Europe and the euro.

Forex traders trade with the trend, that’s a fact. Trends are the strongest indicators of how well the currency pair are doing over the last couple months or years. Trading the trend may sound simple and many traders are taking it as a “de facto” of their overall trading strategy, if so … you really need to reconsider your Forex strategy.

Greece continues to drag the Euro down. Almost every night there seems to be another dramatic issue bubbling up from the most troubled European country. The CurrencyShares Euro Trust (NYSE:FXE) is getting pounded on the back of these worries, trading at $142.23, -1.69 (-1.17%). As the Euro falls, the Dollar soars. As the Dollar soars, the markets collapse lower.