The Globe and Mail reports in its Thursday, Oct. 10, edition that the greenback had its strongest week in two years, demonstrating the risks of betting against the U.S. currency when other countries are not allowing it to drop. A Reuters dispatch to The Globe reports that the surging dollar surprised many speculators who were betting against it and waiting for it to weaken. The dollar's rally was partly fuelled by the strong U.S. employment report and the resulting re-evaluation of the Federal Reserve's interest rate plans. However, the dollar's rebound had already begun before the employment report was released. The main reason behind the dollar's renewed strength was the clear indications from central banks in Europe and Japan that they would respond to any rate cuts by the Fed. European Central Bank, Bank of England and Swiss National Bank officials made comments suggesting that they were preparing for accelerated easing in response to the Fed's aggressive rate cuts. These responses were triggered by the Fed's 50-basis-point rate cut last month, which was followed by comments from European and Swiss central bank leaders indicating that they were also preparing for significant easing measures.