FX Closing Comments

The Dollar was tame today, despite the strong durable goods number this morning and the despite March's robust new home sales data. Overall the greenback was mixed throughout the day, losing ground to the Canadian Dollar and Aussie Dollar. Although the big durable goods report had much to do with exceptionally strong Boeing aircraft sales, the core figure remained encouraging and may indeed impact Q1 GDP figure, which are due on Friday. The robust new home sales data is similarly encouraging, though some softening in prices was noted in the report. Tomorrow will bring us Fed Chairman Bernanke's testimony to Congress, which may now have a less cautious tone.