FXstreet.com (San Francisco) - As we start another week, the U.S. dollar is practically unchanged versus its European counterparts and slightly weaker against currencies linked to commodities, as traders refrain from committing large amounts of capital ahead of the highly anticipated Jackson Hole meeting of central bankers.
From Ilian Yotov, FX Strategist and Founder of AllThingsForex: “The USD came under significant pressure following the minutes report from the Fed’s latest meeting which stated that ‘additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery’. It would not be surprising to see a similar market reaction if the Fed Chairman gives a sign that QE3 might be just around the corner.”
From Ilian Yotov, FX Strategist and Founder of AllThingsForex: “The USD came under significant pressure following the minutes report from the Fed’s latest meeting which stated that ‘additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery’. It would not be surprising to see a similar market reaction if the Fed Chairman gives a sign that QE3 might be just around the corner.”
