Fed Minutes are Next Key Test for Dollar's Direction
Dow Jones
2 hours ago
1101 GMT - The upcoming minutes of the Federal Reserve's September meeting will provide the next major test for the dollar, Tapaas chief executive Jonathan Squires says in a note. With markets pricing little chance of policy tightening for the October 28 decision, evidence of broad support for further interest-rate hikes could trigger a repricing and boost the dollar, he says. "Conversely, signs of disagreement over the timing or need for additional tightening could weaken the broader multi-hike path and weigh on the currency." The Fed minutes will be released on Wednesday. The DXY falls 0.2% to 102.013 after hitting a near 18-month high of 102.535 Monday.
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