With the markets in turmoil and the future of investment clouded by financial explosions, speculation is running wild an aimless. As an update to David Song’s alert this morning, just in a matter of hours Fed Fund futures have shown another significant shift in rate expectations. From a 92% chance of a cut tomorrow, the nearby futures contract is now pricing in a 62% probability as more details about weekend deals comes out. As we look to meetings further out, there is a 69% chance of at least one hike in October and 83% likelihood of at least one through December 16th. What does this mean for the dollar? Any expectations for easing monetary policy is very bad for a currency; but in this market environment, every economy is looking at potential rate cuts. Now, we need to determine which economy will see the fastest pace of easing and which stands to suffer the most.