Forex: Dollar moves away from daily lows after FOMC minutes

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FXstreet.com (Córdoba) - The Dollar rose slightly after the release of the FOMC minutes, particularly against commodities currencies. Greenback is still under pressure across the board and against the Yen is testing daily lows. EUR/USD pulled back to 1.2725 and GBP/USD fell below 1.5255.

Currencies tied to commodities weakened after the release and regained the downside against its European rivals.

USD/JPY is testing daily lows at the 88.15/20 zone. The Yen gained momentum across the board in the last minutes as stocks turned negative in Wall Street.

"The information reviewed at the June 22-23 meeting suggested that the economic recovery was proceeding at a moderate pace in the second quarter. Businesses continued to increase employment and lengthen workweeks in April and May, but the unemployment rate remained elevated. Industrial production registered strong and widespread gains, and business investment in equipment and software rose rapidly", the FED published on the minutes.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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