The U.S. dollar extended overnight rally against its key counterparts in pre-European trading on Thursday, as minutes from the Federal Reserve’s April meeting showed an optimistic outlook about the U.S. economy and hinted at the possibility of an interest rate hike in June. “Most participants judged that if incoming data were consistent with economic growth
The dollar is up against the Japanese Yen and the British pound Wednesday afternoon and is paring its losses against the Euro following the release of the Federal Reserve statement. As expected, the Federal Reserve made no change to monetary policy in light of disappointing recent economic data. “Economic activity appears to have slowed,” the
The dollar is down against its major European rivals this afternoon, but has trimmed its early losses. The U.S. currency is also modestly higher against the Japanese Yen ahead of tomorrow’s announcements from both the Bank of Japan and the Federal Reserve. The Fed is widely expected to leave interest rates unchanged, but traders are
The British pound weakened against the other major currencies in the Asian session on Wednesday. The pound fell to 1.4371 against the U.S. dollar and 156.48 against the yen, from yesterday’s closing quotes of 1.4393 and 157.18, respectively. Against the euro and the Swiss franc, the pound edged down to 0.7911 and 1.3812 from yesterday’s
The dollar is up against its major European rivals Thursday afternoon, but is continuing to lose ground against the Japanese Yen. The U.S. currency is gaining ground against its European rivals after the minutes from the most recent ECB meeting suggested that further stimulus measures could be possible. Meanwhile, yesterday’s Fed minutes showed that policy
