Dollar Gains Before Fed Minutes; Aussie, Won Decline

8
Oct

Forex Trading Floors brings the latest news from Bloomberg on The Dollar gain today.

The dollar advanced for the first time in three days against the euro before the Federal Reserve releases minutes of its most recent meeting as investors weighed the timing of the first interest-rate increase since 2006.

The greenback strengthened versus all but two of its 16 major peers. Russia’s ruble declined as data showed the central bank sold $420 million of foreign currency in its third day of interventions this month. The Australian dollar fell after the statistics bureau today said it will drop the widely watched seasonally adjusted employment figure. South Korea’s won fell to a six-month low versus the dollar. Group-of-20 finance ministers and central bankers will meet in Washington this week.

“If the Fed minutes today show discussions about specific timing of their interest-rate increase, that would boost the likelihood that the next policy statement will alter the wording around keeping borrowing costs low for an extended period,” said Junichi Ishikawa, an analyst at IG Markets in Tokyo. “That will spur dollar buying.”

To read full article please click on the link below.

http://www.bloomberg.com/news/2014-10-08/yen-rises-to-3-week-high-as-imf-outlook-spurs-haven-bids.html

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