FX Closing Comments

The Dollar slipped a little bit today in the absence of any fresh data. The September Dollar index fell 42 points to close at 85.34. The big mover today was the Canadian Dollar, which saw consistent gains across the board in a day that saw firm prices for both Natural Gas and Crude markets. Yesterday's sharp rise in core inflation and today's strong retail sales figures have further strengthened the view that rates will be going up at the Bank of Canada's next meeting in July. Tomorrow will bring weekly jobless claims data and the Conference Board's leading indicator index.