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Forex - Dollar Falls to 2-Week Lows after Fed Meeting Minutes

ForexOct 12, 2017 02:24AM ET
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© Reuters. Dollar comes under pressure ahead of data, Fed minutes also weigh

Investing.com - The dollar fell to two-week lows against other major currencies on Thursday, amid fresh uncertainty over a potential U.S. rate hike before the end of the year and as investors eyed a bach of U.S. economic reports due later in the day.

The minutes of the Federal Reserve's September policy meeting released on Wednesday showed that several policymakers believe additional tightening will depend on upcoming inflation data.

However, most Fed members said they still feel another rate increase this year "was likely to be warranted."

Market participants were looking ahead to reports on U.S. jobless claims and producer price inflation due later in the day, as well as the highly-anticipated consumer price inflation data set to be released on Friday.

EUR/USD was up 0.14% at 1.1875 by 02:20 a.m. ET (06:20 GMT), the highest since September 25, after Catalonia stopped short of formally declaring independence from Spain.

Catalan leader Carles Puigdemont on Tuesday proclaimed the region's independence from Spain but said the effects would be postponed to allow for talks with the Spanish government, averting an immediate crisis.

Elsewhere, GBP/USD rose 0.27% to trade at 1.3256, the highest since October 4.

Meanwhile, the yen was higher with USD/JPY down 0.20% at 112.26 following reports Japanese Prime Minister Shinzo Abe's ruling party could keep its parliamentary majority at the October 22 snap election.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.14% at 92.66, its lowest since September 26.

Forex - Dollar Falls to 2-Week Lows after Fed Meeting Minutes
 

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Hiren Patel
garasondiahiren Oct 12, 2017 11:33AM GMT
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WHAT NEXT????---AGAIN WAIT $1325/$1275 IN XAU..XAU, XAG, EU, GU, UJ AND DX........ALL TGT HITTED---SEE LAST FRIDAY'S CALL 1STTTTTTT..EU.........Tgt1 and Tgt2 hitted today.........made a high $1.1880 range again today alsooooooo.........against buy @1.1670 range on last friday..........see call 1stttttttt---what next??????..GU.........Tgt1 and Tgt2 hitted today.........made a high $1.3266 range again today alsooooooo.........against buy @1.3036 range on last friday..........see call 1stttttttt---what next??????..UJ.........Tgt1 almost hitted today.........made a low $112.08 range again today alsooooooo.........against sell @113.42 range on last friday..........see call 1stttttttt---what next??????..DX.........Tgt1 hitted today..........made a low $92.64 range again today alsooooooo.........against sell @94.09 range on last friday..........see call 1stttttttt---what next??????
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