the USD has been purty beat up as of recent especially by the yen, and for absolutely no other reason than the "carry-trade", as far as i can see, Japanese demographics are much worse than in the USA, and the media bashing of the dollar is starting to die down, as soon as the libor gains just a little bit, all those carry trades are gonna UNWIND in a heckuva hurry and the YCS will improve dramatically, i lost a bucket of cash in USD/JPY spot market right after the elections (in Japan), and decided to jump into the YCS,, i'm betting before options expiry in Feb 2010.  The new leadership in Japan is reluctant to intervene in the currency market as of yet, but exports are suffering so i project it'll happen sooner rather than later