US dollar broadly lower against other major currencies early in NY trading. Greenback near a session low against the yen and that cross could be one to watch as the day progresses and Fed releases minutes from its latest meeting. If the minutes indicate the Fed was close to launching additional quantitative easing, that could weaken dollar-yen exchange rate, which is highly susceptible to interest-rate differentials. USD's negative bent against the yen before the release of the minutes could indicate investors expect some dovish comments in the minutes. USD at Y79.18 from Y79.42 late Tuesday, according to EBS via CQG.
Wednesday, 11 July 2012
US Dollar Broadly Lower Early in NY
US dollar broadly lower against other major currencies early in NY trading. Greenback near a session low against the yen and that cross could be one to watch as the day progresses and Fed releases minutes from its latest meeting. If the minutes indicate the Fed was close to launching additional quantitative easing, that could weaken dollar-yen exchange rate, which is highly susceptible to interest-rate differentials. USD's negative bent against the yen before the release of the minutes could indicate investors expect some dovish comments in the minutes. USD at Y79.18 from Y79.42 late Tuesday, according to EBS via CQG.
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