Forex – U.S. Dollar Flat After Fed Minutes; Euro, Pound Edges Up on Brexit News



Investing.com – The U.S. dollar was flat on Thursday after the release of the Federal Reserve’s March meeting minutes.

The that tracks the greenback against a basket of other currencies last traded at 96.523 by 1:40 AM ET (05:40 GMT), down 0.04%.

The majority of policymakers expect the central bank to remain on pause for the rest of the year, the minutes showed.

However, Fed officials left the door open for more rate hikes by saying some policymakers under certain circumstances could “judge it appropriate to raise the target range for the federal funds rate modestly later this year.”

“Several participants noted that their views of the appropriate range for the federal funds rate could shift in either direction,” the minutes say.

On Wednesday, the IMF cut its forecast for world growth this year to the lowest since 2009, a mere 3.3%.

Meanwhile, the euro recovered some of its early losses in the wake of the European Central Bank’s unchanged decision on interest rates and downbeat economic remarks from ECB President Mario Draghi.

“Incoming data continue to be weak, especially for the manufacturing sector … The slower growth momentum is expected to extend into the current year,” Draghi said.

The pair last traded at 1.1280, up 0.1%.

The pair was also up 0.1% to 1.3103 after European Union leaders and the U.K. agreed to a “flexible extension ” of the Brexit deadline till Oct. 31, which Prime Minister Theresa May has accepted.

In a press conference after the agreement was reached, May said “the choices we now face are stark and the timetable is clear”. She acknowledged the “huge frustration” that the UK had not yet left the EU.

The pair edged up 0.1% to 111.07.

The pair and the pair were both down 0.1%.

The pair was largely unchanged at 6.7121.

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