US dollar stronger on Fed meeting minutes

Posted 23 August, 2018

The US dollar has strengthened on Thursday driven by the minutes of the US Federal Reserve meeting released yesterday. After the report, the players have become even more confident in the September interest rate increase.

WSJ Dollar index added 0.36% on Thursday.

This morning the euro lost about 0.26% against the greenback reaching $1.1567. The Wednesday session was closed at $1.1597. The US dollar-to-yen rate moved up to some 110.85 (110.56 earlier).

At the same time, the euro to yen rate stays generally unmoved. The rate stands at 128.19, practically unchanged d-o-d.

According to the minutes, the Central Bank in the USA remains positive about the economic situation in the country and believes that further revision of the interest rate is well-grounded, though it cites risks coming from the foreign trading.

As a result, the market is almost 100% sure that the Federal Reserve may raise the rate in September, which pushed the US dollar up.

The next anticipated event is the annual economy policy symposium to take place in Jackson Hole this week. Specifically, Jerome Powell, the Fed Chairman, is about to make a speech at the meeting this Friday.

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