FX Closing Comments

The Dollar levelled-off on Friday, ending mixed against the other majors (up against the Pound and Franc. Down against the Euro and Yen). For the most part, major pairs kept to tight ranges to end the week. Friday's data was uneventful with Industrial production up slightly more than expected and the Michigan confidence survey reported in line with forecasts. Next week has a thin calendar in the U.S., with the most significant release being Friday's durable good report. Tuesday's PPI data also has the potential to shake things up, if it is surprisingly high.