The US dollar keeps rebounding against the euro and yen during the Wednesday trading on anticipated Federal Reserve meeting minutes.
Investors are reportedly waiting for the minutes of the January Federal Reserve meeting that will be announced later this day. Specifically, they are willing to see new signals about the further revision of the core interest rate in the country.
Moreover, the new chairman of the Central Bank Jerome Powell will make a speech next week, which may become a big event for the market.
In the words of CEO Mitsubishi UFJ Trust & Banking, investors decrease short positions in the dollar and other currencies vs the yen, while traders refuse to predict further market trend willing to see the Federal Reserve meeting minutes and Central Bank's chairman message.
The euro dropped vs the greenback to $1.2327 Wednesday morning ($1.2337 yesterday). The US dollar to yen rose to 107.73 (107.33 earlier).
As for the Australian dollar, the currency posted strong gains driven by the labor report in Australia with increased salaries in Q4 (0.6% q-o-q; 2.1% y-o-y). However, it weakened later, so USD to AUD rate was 1.2731 this morning (1.2684 yesterday).