Dollar Steady as Markets Wait for FOMC Minutes

The US dollar was steady against its major rivals today as traders were waiting for the Federal Open Market Committee to release minutes of its latest policy meeting.

The FOMC will release minutes of its June meeting as of 18:00 GMT today. Market participants hoped that the notes will give some clues as to whether the Committee is going to hike interest rates again this year. Currently, CME FedWatch shows less than 20% chance of a hike in September and about 60% in December.

Meanwhile, the Census Bureau released a report on factory orders. It showed a drop by 0.8%, which was bigger than analysts had predicted — 0.5%.

EUR/USD opened at 1.1345 and traded at 1.1333 as of 14:52 GMT today. GBP/USD stayed near its opening level of 1.2919. USD/JPY was also close to the opening of 113.27.

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