The Dollar saw a very stabile session during yesterday's trading. The Dollar continues to trade at a very high rate against the Euro, as the EUR/USD has bottomed at the 1.3578 level, trading near a 9-month low.

The Dollar's trading was quite flat yesterday, mainly because U.S. banks were closed in observance of President's Day. There seems to be two main reasons that keep the Dollar at its strong form at the moment. The first reason is the European concerns regarding Greek debt. Investors still have fears regarding a possible slowdown in the Euro-Zone economic recovery. This leads them to look for safe haven investments such as the Dollar and the Yen, and retains the Dollar's bullish tend against most of the major currencies. In addition, the Dollar is also affected by the prices of crude oil. Crude oil dropped almost consistently for the past 4-weeks, further boosting the Dollar.

Looking ahead to today, the most impacting event on the economic calendar looks to be the Long-Term Purchases report, which will be released at 14:00 GMT. This report measures the difference in value between foreign long-term securities purchased by U.S. citizens and U.S. long-term securities purchased by foreigners during December. This reports the trust of foreign investors in the U.S. economy, and thus has a large impact on the Dollar. If the end result will reach above expectations for 50.3B, the Dollar is likely to strengthen as a result.