empty
 
 

2017.02.2323:07:00UTC+00Dollar Reverses Losses from FOMC Minutes

The dollar managed to regain some footing after tanking to a two-week trough versus the Japanese yen. Despite nursing its losses, the greenback is still bound for weekly declines after the Federal Reserve meeting minutes dashed the momentum of dollar bulls.

The U.S. dollar ticked up 0.1 percent and exchanged hands at 112.73 yen, but was still close to a two-week low of 112.55 hit overnight. It is on track for drop of 0.3 percent this week.

The dollar index fell 0.2 percent to 100.970 and will end almost flat for the week.

Pressure from the Fed minutes released on Wednesday, which struck a more dovish tone than expected, lingered in the forex markets and continued to weigh on the dollar.

Another factor providing pressure to the currency were U.S. Treasury Secretary Steven Mnuchin's comments in his first public interview, in which he remarked that any policy imposed by Trump administration are seen to have a limited effect this year. He also said that a tax reform must be passed before the recess of the congress, a timeline that fails to fulfill expectations of immediate reform.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback