U.S. Dollar Lower After Fed Minutes

The dollar started at one-week lows against a basket of major currencies on Thursday, coming under some pressure after minutes of the Federal Reserve’s June meeting gave no clear indication on when interest rates will rise.

The minutes confirmed that the Fed’s monthly bond purchases would end in October and that policymakers debated about the complexities of unwinding a stimulus program that had flooded the financial system with over $2 trillion.

Wall Street bounced back from a two-day selloff in the absence of any guidance on whether rates will be raised by mid-2015 as speculated, Treasury yields rose while the dollar was sold down.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.