FX Daily Wrap Up

With large moves early in the morning, the majors traded relative flat pushing into the afternoon session. Among the few indicators today, wholesales inventories and sales received the greatest amount of attention. Often used as a leading indicator to the retail sales gauge for the same month, August inventories at wholesale level grew 1.1 percent to $386.6 billion. The Dollar had a 100-point rally today against the Euro sending the pair to a 3-month low. The largest move of the day came from a 180 point drop in the Pound/Dollar which sank to a two-and a-half month low near 1.8525. Another notable mover was Dollar/Yen which rallied to 119.80, the highs for the year. By XPRESSTRADE Analyst David Hilgeman