Market participants expect the publication of the minutes of the last meeting of the Federal reserve system of the USA, against this background, the us currency has a negative trend – at 8.00 GMT the dollar index was down to 95,48 of the item.
MOSCOW, 8 Oct. The dollar is negatively biased against the major global currencies on Thursday amid expectations by market participants of the publication of the minutes of the last meeting of the Federal reserve system (FRS) the USA, according to AFP.
As of 8.00 am GMT the dollar index (the dollar against a basket of currencies of six major U.S. trading partners) was down 0.1% to 95,48 of the item. The dollar against the yen fell to 119,86 yen per dollar with 120,01 yen per dollar at the previous closing. The Euro-dollar exchange rate rose up to 1,1257 1,1237 of the dollar from the dollar to the Euro.
At the last meeting in September the fed again kept rates at a record low of 0-0. 25%. While the regulator did not rule out a rate hike before year end. Recently, however, according to experts, this probability is significantly decreased on the background of weak macroeconomic statistics from the USA.
Market participants expect the publication of minutes of the two-day meeting of the American financial regulator for possible get hints regarding the plans of the fed to increase rates.
According to currency analyst at the Japanese division of Barclays Bank Shinichiro Caddy (Shinichiro Kadoda), in the medium term, the dollar-yen will move below the level of 120 yen per dollar, based on the assumption that the fed will postpone the rate increase until March.