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Forex - Dollar almost unchanged after Fed minutes, data ahead

Published 02/23/2017, 05:27 AM
© Reuters.  Dollar holds steady with U.S. jobless claims on tap
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Investing.com - The dollar was almost unchanged other major currencies on Thursday, as the minutes of the Federal Reserve’s most recent policy meeting failed to deliver a clear message on the pace of future rate hikes.

EUR/USD eased 0.09% to 1.0547, off the previous session’s six-week low of 1.0492.

Late Wednesday, the minutes of the Fed’s January policy meeting showed that policymakers thought it may be appropriate to raise interest rates again "fairly soon."

However, the minutes also revealed the central bank’s uncertainty over the lack of clarity of the Trump administration's economic program, which limited the greenback’s gains.

The minutes came after Fed Chair Janet Yellen said last week that a rate increase would be appropriate at one of the Fed’s forthcoming meetings.

Elsewhere, GBP/USD edged up 0.10% to 1.2470.

USD/JPY slipped 0.11% to 113.18, while USD/CHF held steady at 1.0107.

The Australian dollar was weaker, with AUD/USD down 0.17% at 0.7692, while NZD/USD rose 0.21% to 0.7204.

The Australian Bureau of Statistics earlier reported that private capital expenditure fell 2.1% in the fourth quarter, compared to expectations for a 0.5% slip. Private capital expenditure declined 3.3% in the third quarter of 2016, whose figure was revised from a previously estimated 4.0% drop.

Meanwhile, USD/CAD edged down 0.17% to trade at 1.3143, off Wednesday’s two-week high of 1.3211.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was little changed 101.35, off the previous session’s one-week high of 101.72.

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