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18 Mar 2015
Session Recap: USD offered ahead of FOMC
FXStreet (Edinburgh) - The greenback is extending the weekly downside on Wednesday, as market participants get ready for the FOMC gathering due later in the European evening.
A cautious tone prevails amongst traders nonetheless, amidst opinions favouring a hawkish tone from the Committee. The euro trimmed earlier gains to the 1.0640 levels and seems to feel more and more comfortable near the 1.0600 handle. Mixed data from the UK’s labour market – unchanged jobless rate, lower Claimant Count – plus a steady stance from the BoE reflected in today’s minutes gave further selling pressure to the sterling, dragging Cable to lows last seen in June 2010 around 1.4640. The Japanese yen appreciated towards the 121.10 zone vs. the US dollar, although shedding part of those gains at the time of writing.
In the commodities’ space, the barrel of WTI is down near 2.5% around $42.40; the troy ounce of Gold is down just 0.10% below the $1,150 level.
A cautious tone prevails amongst traders nonetheless, amidst opinions favouring a hawkish tone from the Committee. The euro trimmed earlier gains to the 1.0640 levels and seems to feel more and more comfortable near the 1.0600 handle. Mixed data from the UK’s labour market – unchanged jobless rate, lower Claimant Count – plus a steady stance from the BoE reflected in today’s minutes gave further selling pressure to the sterling, dragging Cable to lows last seen in June 2010 around 1.4640. The Japanese yen appreciated towards the 121.10 zone vs. the US dollar, although shedding part of those gains at the time of writing.
In the commodities’ space, the barrel of WTI is down near 2.5% around $42.40; the troy ounce of Gold is down just 0.10% below the $1,150 level.