The greenback is facing a bearish pressure. This is due to the hawkish tone of the Fed regarding the monetary policy. Investors are looking forward to know the meeting minutes of the FOMC. The US dollar index is trading at 97.15. The USD/JPY pair is trading at 112.60. The AUD/USD pair is trading at 0.7190.
Recently, the Reserve Bank of Australia conducted the policy meeting. As the economic situation in Australia is in good condition, an interest rate hike at the moment looks less likely. The IFO institute will publish its business climate report for Germany, today.