Forex Today: Dollar under pressure ahead of FOMC Meeting Minutes – by ValBednarik EURUSD XAUUSD CryptoCurrencies RBNZ Fed
The greenback edged lower on Tuesday amid the better performance of global equities and weaker US Treasury yields. Activity, however, was limited ahead of theAsian and European indexes closed in the green, while Wall Street posted substantial gains, adding the most in the final hours of trading. On the other hand, US Treasury yields edged lower with the 10-year note yield down 7 bps to hover around 3.75%, and the 2-year offering 4.51% barely down for the day.
noted that expectations for longer-term inflation are reasonably anchored, although wage growth lags below inflation in most sectors. Finally, she added that labor demand outpaces worker supply. At the end of the day, the market focus was on the European energy crisis, as the G7 and the EU are once again discussing a cap on Russian oil prices.
recovered some ground but could not regain the 1.0300 threshold, holding nearby at the end of the US session.pushing privately for Britain to have closer ties with the European Union, somehow generating tensions in the new UK Prime Minister Rishi Sunak's government. GBP/USD settled at around 1.1880 amid the broad dollar’s weakness.
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