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US dollar edged higher against major Ahead of Fed Minutes

2019-08-21 01:05 pm | Resource: News | No Views : 81

US dollar edged higher against major   Ahead of Fed Minutes

The US dollar edged higher against its major counterparts in Wednesday's early European session, as investors awaited the release of the minutes from the July meeting later in the day for more evidence of further interest rate cuts in the coming months.

Neil Kashkiri: The Fed should add guidance to cut rates

One of the most cautious central bankers in the United States has suggested that the Federal Reserve should make a "minimum" that interest rates will not be raised until core inflation returns to a 2% target on a sustainable basis. Neil Kashkari wrote in an article published on Wednesday in the Financial Times, that the communication tool known as forward guidance should accompany another reduction in borrowing costs in September.

The Minneapolis Fed chairman said the assertion that market participants and consumers would support the economy was stronger than the traditional easing alone. He cited a slowing global economy, highlighting weak domestic corporate spending and warned that the main section of the yield curve on Treasury bonds briefly overturned last week.

The FOMC voting member said next year that resorting to forward guidance only after rates were actually at zero would be someone who "drives a car in a hole" and claims to keep it there on purpose. In his view, policymakers should take advantage of the opportunity to influence the situation in the long term before it is too late.

US Dollar Trades Against Currencies
  • The dollar rose to 1.2128 against the pound, from a low of 1.2175
  • The dollar rose to 0.9806 against the franc, after a two-day decline to 0.9772 against the US dollar
  • Against the yen, the dollar rose and advanced to 106.60 after falling to 106.22 yen in morning trading
  • The dollar stabilized to 0.6396 against the kiwi, compared with 0.6415 during yesterday's close
  •  The dollar fell to 1.1106 against the euro, from a high of 1.1088
  • The dollar fell to a two-day low of 1.3296 against the Canadian dollar.
  • The dollar pared gains to 0.6789 against the Australian dollar, from a high of 0.6773 in the Asian session.

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Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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