email:  
 
 
  
 

Friday, June 16, 2006

FX Closing Comments

The Dollar drifted lower today with few sizeable moves. The Dollar index closed down 12 ticks as the Dollar slipped against all the majors, except for the Yen. There remains a significant amount of indecision in the market with rising inflation and the prospect of slowing growth making headlines. On the one hand, the likelihood of additional rate support is helpful, though the resulting slower growth is unhelpful to longer-term projections. Monday does not have any additional data and is likely to be slow, barring any unexpected developments.