FX Closing Comments

The Dollar was essentially sideways during the U.S. session with the June Dollar index ending the day -9 at 86.06. The biggest "new negative" today was the soft industrial production figure, which came in at a -.1% for May, relative to last month's gain of .8%. The volatile Empire survey and weekly jobless claims were mixed. Claims dipped below 300,000 to 295,000. The Empire manufacturing survey spiked to 29 in June from last month's 12.4 and expectations of 12.9. Tomorrow, the market will learn the size of the U.S. current account deficit for Q1. It is estimated to be close to $205b.