empty
 
 

2017.05.2422:35:00UTC+00Dollar on the Defensive, Euro Gains Following Fed Minutes

The dollar was on the backfoot after minutes of the Federal Reserve policy meeting which were not as hawkish as expected, while the euro inched back up towards a 6-½ month peak.

The greenback was flat at 111.570 yen, retreating from a one-week peak of 112.130 touched the day earlier.

The euro, which went as low as $1.1168 overnight, edged up 0.1 percent at $1.1230, pushing its way back towards the 6-½ month high of $1.1268 reached on Tuesday.

The common currency faced a bull run this May on factors which include French political concerns subsiding and strong eurozone data.

The dollar index versus a basket of major peers fell 0.3 percent at 96.983.

The Canadian dollar was at a one-month peak versus the greenback after the Bank of Canada appeared more optimistic regarding the economy than some investors anticipated. The central bank kept interest rates steady and pointed out robust spending by Canadians as well as a housing boom and job growth.

The loonie stood at C$1.3413 a dollar after hitting C$1.3405 overnight, its strongest since April 19. Higher crude prices have also buoyed the Canadian dollar this week.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback