US Dollar Edges Higher as Traders Wait for Fed Minutes

  April 03rd, 2012 at 14:20, Miranda Marquit

Many US hundred-dollar billsUS dollar is mixed today as traders wait for the latest minutes from the Federal Reserve meeting. The minutes of the meeting should provide some insight into what different members of the board think should happen with the economy, and might even give some clues about what could be next.

For now, US dollar is mixed, trading mostly unchanged against the euro, and a little higher against the UK pound. Greenback is also edging up against the loonie. A little bit of the earlier risk appetite on the market has faded as traders wonder what’s next.

On the US stock market, investors have been pulling back a bit as they rethink yesterday’s gains. Risk appetite is fading, and Forex traders are looking for a little bit of safety and stability. However, the US dollar isn’t universally trading higher right now. There is a lot of uncertainty, and some positive momentum as well, as traders and investors try to figure out what’s next.

However, if the risk aversion continues, the US dollar is likely to make a few more gains today — and possibly into tomorrow.

At 14:15 GMT EUR/USD is a little lower at 1.3311, down from the open at 1.3322. GBP/USD is down to 1.5965 from the open at 1.6025. USD/CAD is up 0.9913 from the open at 0.9906.

If you have any questions, comments or opinions regarding the US Dollar, feel free to post them using the commentary form below.

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