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Mixed FOMC Minutes Support the Dollar

The US dollar saw a correction across the board on Wednesday as the FOMC minutes revealed concerns regarding the road to recovery.

Policymakers hinted at further aggressive stimulus measures and poured cold water on yield curve implementations, for now, which weighed in on market sentiment.

The US Index closed up 0.85% and targeted the 93-area as investors reflected on the Fed minutes. The index has been under increased pressure in recent months. It has moved from a multi-year high of $103 to a recent 2-year low of $92.15.

Risk appetite was evident with the USDJPY as the pair ended yesterday’s session 0.66% higher. The greenback highlighted itself to be a major driver in these current sensitive market conditions.

What a Difference a Day Makes

The main currencies rivaling the US dollar experienced a sell-off yesterday as the euro and pound ended lower by 0.79% and 1.09% respectively.

The greenback was bolstered by a mixed feeling from the Fed as th...

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