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Dollar Starts Week on Strong Footing

February 18, 2014 at 0:00 by Vladimir Vyun

Focus on one US dollarThe US dollar started the week fairly strong against most major currencies, though it was flat versus such currencies as the euro and the New Zealand dollar. The major highlight of this week will be the minutes of the latest Federal Reserve monetary policy meeting.

The Federal Open Market Committee will release the minutes on February 19. They should reveal the thought of policy makers that led to the reduction of monetary stimulus. Additionally, traders hope that the minutes will help to guess the future actions of the US central bank.

The general consensus is that the Fed will continue to reduce accommodative measures. Yet the last week’s poor economic indicators caused a bit of uncertainty in this matter, leading to potential unpredictability of dollar’s moves.

EUR/USD was almost flat at 1.3704 as of 23:58 GMT today. GBP/USD dropped from 1.6766 to 1.6719 and USD/JPY advanced from 101.63 to 102.05.

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

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