FX Closing Comments

The Dollar stood firm today, before, during, and after the day's data. Overall the data was balanced with the ISM service-sector index slightly higher, unit labor costs slightly higher, and Q2 productivity right on target. The Pound and Aussie-Dollar fell under pressure, while the other majors held tight. Looking ahead, tomorrow will bring a rate announcement (or non-announcement) from the Bank of England, as well as wholesales sale figures (exp. .9%) and wholesale inventories (exp. .7%) in the U.S.