Forex – Euro rises to 1-week highs vs. dollar after Fed minutes


Dollar broadly lower afater Fed minutesDollar broadly lower afater Fed minutes – The euro rose to one week highs against the dollar on Thursday after the minutes of the Federal Reserve’s latest meeting gave little indication of when interest rates could start to rise.

EUR/USD edged up 0.07% to 1.3649, the highest since July 3.

The pair was likely to find support at 1.3601, Wednesday’s low and resistance at 1.3680.

Wednesday’s minutes of the Fed’s June meeting showed that officials agreed to end the bank’s asset purchase program in October.

The dollar remained under pressure after the minutes revealed little new information on when the bank could start to hike rates. The central bank acknowledged that the economy is continuing to improve but officials remain divided over the outlook for inflation.

The dollar was close to one-week lows against the yen, with USD/JPY down 0.15% to 101.48.

Elsewhere Thursday, the euro slipped against the yen, with EUR/JPY dipping 0.11% to 138.49, holding above Tuesday’s lows of 138.10.

The yen’s gains were held in check after data released earlier Thursday showed that Japan’s machinery orders fell by a record 19.5% in May, raising doubts over the outlook for capital investment.

The U.S. was to release data on initial jobless claims later in the trading day.

Source By Breaking News Website | BreakingNews.WS