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On Wednesday, the US currency was intact versus a basket of the other key currencies after a holiday in America, as traders waited for the minutes of the Fed’s latest gathering later in the day.
The US dollar index, assessing the greenback’s value versus a trade-weighted basket of six crucial currencies, showed 95.96.
The US dollar soared versus the Japanese yen, with USD/JPY adding 0.19% and hitting 113.49, having dropped to an overnight minimum of 112.83.
The Japanese yen remained underpinned overnight amid surging geopolitical tension a day after North Korea launched an intercontinental ballistic missile, reportedly capable of carrying a large nuclear warhead.
The greenback managed to regain ground as financial markets moved on following a brief bout of risk aversion.
The Fed was expected to issue minutes from its June policy gathering later on Wednesday. Market participants are waiting for fresh indications on the future path of American interest rates ahead of Friday’s major jobs report.
The common currency pushed higher versus the greenback, with EUR/USD leaping 0.15% and showing 1.1366.
Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
What is important today?
USD/SGD rises as the indicators disappoint the market.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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