Forex Trading: US Dollar stronger today

The US dollar is stronger this morning as the oil price comes off.  In the Eurozone the German inflation numbers from the various German states were higher than what was expected.  Rather than an inflation rate of 2.9%, the expectation is for a rise to 3.2%.  The price of liter of petrol in Germany in the past month has shot up 6% from 1.41 euros per liter to 1.50 euros.  Over the period the dollars relative strength is making the cost of oil that much more expensive as the oil is denominated in dollars and a rising dollar makes buying it in Europe, more expensive.  The relief in the oil price today will help however.