Peaking Rates, Fuel Costs, and Geo-Politics Softening the Dollar Today

The Dollar was soft today for many of the familiar reasons (peaking rates, fuel costs, geo-politics). Tomorrow has quite a lot of data on the calendar, including the German IFO index and the Bank of England MPC minutes, which will help the markets gage the future of EU and English interest rates. The Bank of England voted to keep rates unchanged this month, but a vote count with more than 2 "no votes" may precipitate a sell-off in Sterling pairs, as it would signal that rates may be falling in March or even February.