Last night and this morning, the Euro fell against the dollar after the ECB cut its rates to new lows, along with strong U.S. economic data. This decline in the value of the Euro relative to the dollar comes after a rollercoaster ride over the past few weeks,  starting with a decline in EUR/USD after Greek elections indicated that Greeks would stay in the Euro-Zone, followed sharp increase in value after European leaders hinted at agreements on how to recapitalize endangered Euro banks.  In my opinion the Euro is headed down to at least $1.15 by the end of the summer after markets realize that Europe is not as healthy as people think.

David Cornes holds a degree in economics from the University of Montana.