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Friday, June 23, 2006

FX Closing Comments

The Dollar had another decent day today (DX up 44 points), after durable good sales perked-up a little in May. The headline number was up 1.4%, while the figure without transportation was up .8%. The two big happenings next week will be the housing data for May and another highly anticipated Fed meeting. Fed is expected to move at least 25bps, with an outside chance of a 50bp move. Existing housing sales are expected at 6.74m on an annual basis, while new home sales are expected to total 1.169m.