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Tuesday, April 25, 2006

FX Closing Comments

The Greenback remains under pressure, though it did not lose very much during today's session. The Euro gained the most ground against the Dollar, on the back of firms data in Germany (strong industrial production figures and a firm IFO index report). The Yen experienced some profit-taking, which pulled the USD/JPY slightly higher on the day. Helping the Dollar late in the session was a very strong consumer confidence figure (109.6) and strong existing housing sales (6.92 million annually through March). The next major release will be tomorrow's durable goods figure, which is expected to show a 4.5% gain for March