US Dollar Mixed as Good Data Countered by Fed Minutes

The US dollar was mixed during early Thursday’s trading. The currency rose versus the euro, fell against the Japanese yen, and was flat versus the Great Britain pound.
Wednesday’s fundamentals were mixed for the dollar. On one hand, US economic data was good, at least the services sector. On the other, the minutes of the Federal Reserve latest policy meeting showed that the Fed is willing to wait to see the impact of the Brexit on the economy:
 

Members generally agreed that, before assessing whether another step in removing monetary accommodation was warranted, it was prudent to wait for additional data regarding labor market conditions as well as information that would allow them to assess the consequences of the U.K. vote for global financial conditions and the U.S. economic outlook.

Now, traders wait for employment data released both on Thursday and Friday. Last time, non-farm payrolls shocked markets by negligible growth. Economists promise decent growth in the upcoming reports, both the private and the government ones.
EUR/USD edged down from 1.1100 to 1.1090 as of 00:54 GMT today. GBP/USD traded at about the opening rate of 1.2927 following the drop to 1.2875 earlier. USD/JPY went down from 101.31 to 100.93 in the fourth daily decline in a row.

If you have any questions, comments or opinions regarding the US Dollar,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *

50 − forty eight =