FX Closing Comments

With little data on the U.S. calendar today, the Dollar did little except regain some of its small, early losses. Outside factors, which may be contributing to Dollar softness include continued tension with Iran and concern over the UAE's decision to allocate an additional 10% of their reserves into Euros in the wake of the contentious port deal. Tomorrow is likely to be a busier day with Japanese Industrial production figures due, the German ZEW index,and a slew of U.S. data, including retail sales and the Q4 current account number.