The US dollar struggles in anticipation of FOMC meeting minutes
Yesterday held no data for the US dollar either, and as such markets were tentative, especially in preparation for today’s main event, namely the release of the minutes from the Federal Reserve Open Committee’s meeting. With the repeated mention of tapering continuing to dominate the news surrounding the currency, these minutes could prove crucial should they give a better idea of the expected date for the bond buying process to be slowed, while some people see the current speculation surrounding this as nothing more than a guessing game. Nonetheless, it is still in the forefront of investors’ minds, as when it is implemented we can likely expect the dollar to gain traction, as the current printing of money brings weakness to the currency. Before all of this today though, existing home sales data could impact the currency if they were to come out either side of expectations. Get in touch with your trader now for a live price on the US dollar ahead of a day that could prove instrumental in the currency’s performance in the coming weeks.