Static FX Pairs Today

FX pairs kept to trading ranges today, after some mixed U.S. data early in the session. With crude now north of $66/barrel, markets are becoming cautious, as events in Nigeria and Iran play-out. These geo-political concerns have strengthened Gold and the Swissie, and kept the bulls from oil-dependent currencies. There has been a lot of "Fed-talk" ahead of Chairman Greenspan's final meeting, with renewed speculation that 4.5% may be the peak, and not 4.75%.