Three Currencies to Watch This Week
We prepared an outlook of major events of this week. Check it and be ready!
Greenback is on defensive, following Fed minutes
On Thursday, the greenback find itself on the defensive after the Fed suppressed some of the more hawkish policy expectations, while the common currency got to a 6-1/2-month peak.
Fed policymakers agreed they require holding off on lifting interest rates until they see clear evidence that a recent economic recession appeared to be transitory, as the minutes from their last policy gathering revealed on Wednesday.The minutes definitely indicated the Fed’s increased caution toward interest rate lifts.
Versus a basket of key currencies, the dollar index tumbled 0.3%, hitting 96.972.
The major American currency was weighed by lower Treasury yields, dropping on the Fed's hint at upcoming rate lifts.
The evergreen buck reached 111.635 yen, drifting away from one-week peak of 112.130 scaled yesterday.
The common currency that dropped as low as $1.1168 overnight, grew 0.2%, reaching $1.1240.
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