8 Apr 2015
EUR/USD gets comfortable below 1.0800 after FOMC minutes
FXStreet (Córdoba) - EUR/USD extended intraday losses and broke below the 1.0800 level as the dollar received a boost from latest Fed meeting minutes, which showed “several” members favored a June rate hike.
EUR/USD dropped more than half a cent as the immediate reaction to minutes and printed a fresh 6-day low of 1.0763 before recovering slightly. However, the subsequent bounce was capped by the 1.0800 confining the pair to a narrow range near daily lows. At time of writing, the pair is trading at 1.0790, still 0.21% below its opening price.
While “several" members judged appropriate June for the liftoff, “others” anticipate initial rate hike more likely later in 2015 due to impact of US dollar and oil prices and “a couple” would like to wait until 2016.
However, the Fed reiterated the liftoff will be data-dependent and they not take into account awful March nonfarm payrolls which were released last week.
EUR/USD dropped more than half a cent as the immediate reaction to minutes and printed a fresh 6-day low of 1.0763 before recovering slightly. However, the subsequent bounce was capped by the 1.0800 confining the pair to a narrow range near daily lows. At time of writing, the pair is trading at 1.0790, still 0.21% below its opening price.
While “several" members judged appropriate June for the liftoff, “others” anticipate initial rate hike more likely later in 2015 due to impact of US dollar and oil prices and “a couple” would like to wait until 2016.
However, the Fed reiterated the liftoff will be data-dependent and they not take into account awful March nonfarm payrolls which were released last week.