The USD.Well I guess we will have the dead cat bounce. I don't expect it to be very long lived though. The USD is basically on life support, living off the generousity of others.
The past sins of greedy bankers going after the untapped market of people who can't afford a home or a credit card is coming home to haunt them. The bankers issued sub-prime loans to overextended people whose jobs are all headed to China and India.
The only answer is to cut interest rates all the way back to the levels of the sub prime loans and pump more more capital into the system to make up for those that will default because they were a terrible credit risk to begin with.
All this leads to the same thing. A continually falling USD.
Gold looks good here. This thing may be terminal.