FX Closing Comments

The Dollar staged a bit of a comeback early in the session. The daily reversal came before the slightly soft TIC report, though the Treasury's inflow data did not seem to affect the Dollar's early gains. Most analyts, however, see little reason for Dollar optimism and see today's move as simple profit-taking. A lot of data lies ahead, including tomorrow's German ZEW index, whose headline number is expected at 60. Housing data is also on tap.