Dollar Weakens Ahead of Fed Minutes; Sterling Gains
The dollar weakened in early European trade Wednesday, with the Federal Reserve’s minutes in focus, while stronger than expected inflation has boosted sterling.
At 2:50 AM ET (0650 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was down 0.1% at 92.222. USD/JPY was up 0.1% at 105.50, while EUR/USD was up 0.1% at 1.1943, having hit a fresh 28-month high of $1.1954 overnight.
The dollar hit fresh lows against most major currencies overnight as the ongoing effects of the Federal Reserve's stimulus programs, together with reduced expectations for fresh fiscal stimulus, weakened the greenback broadly
0 comments:
Post a Comment