Tropical Storm Fay has formed in the northern Atlantic Ocean and continues to strengthen far from land. The National Hurricane Center in Miami says Fay had top sustained winds of about 65 mph late Sunday and was swirling about 400 miles southwest of the Azores. There are no coastal watches or warnings in effect, and Fay is expected to dissipate later in the week. Meanwhile, Tropical Storm Odalys has formed southwest of Mexico's western coast and is forecast to strengthen into a hurricane in the next day or so. Odalys was located Sunday about 1,345 miles west-southwest of the southern tip of Baja California.