While the dollar waits for the publication of the Fed's minutes, it went up again and the reason for this was more than serious. The minutes of the Fed revived expectations of a possible rate hike this year. In the meantime, the dollar rose slightly against the yen and reduced losses against the euro after the Fed said in the minutes of the last meeting that the US economy. The labor market remained strong, which strengthened the market's opinion about a possible increase in the interest rate. Recall that the Fed last month took the markets by surprise with their dovish comments, which looked like a signal that the regulator would stop the campaign to raise interest rates.

Yet, the tone of the Fed has changed now. The dollar continued to grow, as the protocols seemed to reassure market participants, who remained confident that the Fed would raise rates this year. However, if you analyze the protocols in more detail, it becomes clear that they are not generally very different from the January speeches. Hence, it is too early to draw any conclusions that the Fed can easily change its strategy. We can say with confidence only one thing: the current attention of the market will return to the problems of the trade conflict. Most likely, the timing of the introduction of new tariffs will be extended and this may mean that Europe and Japan may face problems. Remember, US President Donald Trump said that the United States will impose tariffs on imports of European cars if they can not conclude a trade deal with the European Union.