FOMC Minutes Lead to Massive Gains for Dollar

The US dollar jumped today, rising to the highest level since April against the Great Britain pound and the Japanese yen, while also touching the strongest price in almost a year versus the euro. The reason for the stellar performance was the minutes of the latest Federal Reserve policy meeting.

BoE Minutes Contribute to Pound’s Strength

Monetary policy minutes of the latest Bank of England meeting revealed that two policy makers were in favor of raising interest rates. This caused the Great Britain pound to gain against its major counterparts.

US Housing Market Leads to Gain of USD/KRW

The South Korean won dropped against the US dollar today, demonstrating the biggest decline in two weeks, as positive housing data from the United States bolstered the greenback.

Outlook for China’s Manufacturing Boosts Yuan

The Chinese yuan advanced today, reaching the highest level in five months, on forecasts of manufacturing growth in the second biggest economy in the world.

Swissie Drops vs. Dollar, Gains vs. Euro

The Swiss franc slumped along with the euro versus the US dollar today. The Swissie rose against the shared 18-nation currency itself but is slowly losing gains right now.

EUR/USD Heads Lower on Eurozone Outlook

The eurozone economic recovery continues to be extremely sluggish, resulting in a lower euro today. Concerns about what’s next for the eurozone have the euro weaker against the US dollar, even though the 18-nation currency is holding its own against other counterparts.

Growth Forecast Weighs on Kiwi

New Zealand dollar is mostly lower today, following the latest growth forecasts. Kiwi is down as GDP forecasts for the year are adjusted downward, and due to the release of the latest producer prices information.

Carney’s Comments Help Pound Gain Ground

The Great Britain pound rose today after Bank of England Governor Mark Carney said over the weekend that the central bank may start raising interest rates before actual wage growth kicks in.

Loonie Gets Boost from Positive Data

The Canadian dollar is getting a boost today, heading a little higher against some of its major counterparts, thanks to positive data recently released. Even though oil is lower today, the loonie is gaining some ground.

Japanese Yen Lower Today

Japanese yen is lower today, falling against most major currencies. Data from the United States and Europe isn’t dire enough to support the yen, and there are plenty of reasons for continued yen weakness at this point.

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