People were dismissive of the data. They are continuing to buy dollars as we speak.
These numbers tell you that the economy is humming right along through the holiday season. There will be no reason for the Fed to stop hiking interest rates, which is very supportive of the U.S. economy and the dollar.
It's starting to appear that the Fed will continue to tighten and that bodes well for the dollar. We've seen the low in the dollar in the last week.
It was a somewhat weak rally in the euro anyway and it wasn't a move that was substantiated by the trade figures.
The reigning theme has been the interest rate differentials that have propelled the dollar higher and the market thinks that theme won't be unwound any time soon. People are continuing to buy dollars on that theme.
The longer-term trend for the dollar is higher for the balance of the year. The economy is doing fine.
Any bets on dollar weakness will be a bet that higher energy prices will divert consumer spending, which has been the motor for the economy.
The minutes have fueled the fire for the dollar bears. The Fed is probably close to ending its tightening cycle.
There's some selling of the dollar on what appears to be a little weaker demand in the U.S. economy.
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