On Monday, July 21, 2008, the U.S. Dollar firmed, only cents away from a record low against the Euro, primarily on renewed investor confidence brought about by the better-than-expected results announced last week by J.P. Morgan, CitiGroup and Wells Fargo; it was also helped by the favorable reception of the Freddie Mac and Fannie Mae rescue plans, which were also announced last week. The U.S. Dollar was further supported by a sharp reduction in oil prices which, at one point last week, was down $18 per barrel.