Rate has inside range day but rallies on news of potential rate cut; OK to look at the buy side on weakness to the bottom of the range. Pullback to the 1.3400 handle on lighter volume. Rate is an absolute screaming buy in my view. Aggressive traders can buy anytime under the 1.3900 handle in my view.

Traders note stops triggered on the way down along with technical selling. Oil weaker helps pressure also. Traders note stops building above the market but those likely remain out of range today.

Rate is two-way on the way down to trade under support around the 1.7300 area; volumes better and traders note large names on the bid possibly covering shorts. Rate is likely heavily over-sold. Follow-on selling likely to attract short-covering on further weakness. Follow-on selling likely from technical's and spillover from EURO. Aggressive traders can buy this dip around the 1.7380 area; look for a recovery back to the 1.8000 handle near term.

The USD is mixed to end New York after a solid two-way session driven mostly by active buying and selling. Although stops were triggered for part of today's volatility in most pairs, the majors remained inside established ranges for most of the day. Today's fundamental news was benign and not market-moving; traders remained focused on how global leaders will attempt to restore confidence to the financial system.

Rate fails overnight at the two-year 50% fib defense at 1.3850 after a volatile start; pullback to the 1.3400 handle on lighter volume. Rate is an absolute screaming buy in my view.