Released Fed minutes slightly boosted the dollar as euro went back on track

US Dollar

The U.S. dollar trades cautiously on Thursday as it opened slightly lower against is opposing currencies. This is after the released minutes from Federal Reserve’s meeting failed to meet the investor’s expectations. Euro rose back on its feet.

The U.S. dollar index fell as much as 0.3 percent at 96.983.

The greenback was marginally changed against the Japanese yen at 111.570 as it was dragged away from its one-week high of 112.130 on the previous session. The euro rose more than 0.1 percent to trade at $1.1230. This brought the common currency back on track towards the 6-1/2-month peak of $1.1268 it notched last Tuesday. Euro has blossomed from the non-bearish run this May as it was boosted by positive euro zone figures and the subsiding political tension in France.

Mizuho Bank’s market economist Daisuke Karakama said that the euro is starting to rise again with the U.S. currency slumping on Fed’s released minutes. Daisuke added that the market is lacking incentives following the meeting and investors have to wait until the report from the U.S. non-farm payrolls for the main event.

In other currencies, the Australian dollar was slightly changed at $0.7500 as it fell by $0.7443 last Wednesday after Moody downgraded China.

The Canadian dollar was on its one-month high versus the U.S. dollar as central bank secured interest rates last Wednesday; however it noted strong spending by Canadians. The Lonnie stood at C$1.3413 a dollar as it was supported by strong crude oil prices.


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