The Euro gained against the dollar while the Yen fell away, reversing the Forex trend last week (see charts below). On Monday of last week the Euro was .7578 per dollar and on Friday it was .784.

Today it was .7812 per dollar.After weeks of protests, the German legislature approved their portion of a EU100 billion bailout package for Greece. The dollar and Yen benefited from the chaos in Europe last week.

There is another bailout package, according to Bloomberg. European finance ministers held a 14-hour meeting over.

The weekend and announced early Monday they would create a EU750 billion ($973 billion or more) aid package. There were fears that the central bank would fall apart or the union would fail because of the fiscal crisis. Our data show the Euro up .36 percent today compared to Friday.

Apparently the ECB will be purchasing government bonds to help shore up their union members. Germany is losing more control over the Euro. According to Catholic University of Leuven in Belgium professor, Paul de Grauwe, the EU is becoming a fiscal union, not just a monetary one.

The Japanese Yen benefited greatly during the crisis in Greece but this is now correcting. Today their bonds fell more than they have anytime in the past five weeks. The Asian markets are coming back to life after a decline last week.

Japanese bonds dropped Monday as the Ministry of Finance plans the sale of 2.2 trillion yen ($23.7 billion) 10-year bonds tomorrow. The Nikkei 225 was up 1.60 percent to 10,530.70. Last Monday the index was 11,057.40 but fell to 10,364.59 by Friday. The Dow, Nasdaq and S&P 500 were all higher on Monday.