FX Closing Comments

The Dollar was strong today after an uneasy start. The U.S. session began under the prospect of a terrorist attack at the world's largest oil storage facility, and the greenback looked set to suffer on oil supply concerns. Thankfully, the attack was quickly deemed to be a failure with no disturbances to production or major damage reported. The Dollar strengthened against the other majors, with the exception of the Yen, which continued to draw strength from recent BoJ comments. Durable goods orders were also reported very weak in January, though traders discounted the headline number as being skewed by soft orders for Boeing aircraft. The underlying figures were fairly robust.