Macro Trades: EUR/USD [Video]

Dukascopy Bank Team Dukascopy Bank SA

EUR/USD: US FOMC Meeting Minutes

The European Single Currency appreciated against the US Dollar, following the US FOMC Meeting Minutes release on Wednesday at 19:00 GMT. The EUR/USD exchange currency rate gained 22 pips or 0.19% during a minute, right after the release. The European Single Currency continued trading at the 1.1535 area against the US Dollar.

The Federal Reserve releases US FOMC Meeting Minutes where fed officials provide in-depth insights into the economic and financial conditions that influenced their vote on where to set interest rates.

The meeting summary stated, "With an increase in the target range at this meeting, the federal funds rate would be at or close to the lower end of the range of estimates of the longer-run neutral interest rate, and participants expressed that recent developments, including the volatility in financial markets and the increased concerns about global growth, made the appropriate extent and timing of future policy firming less clear than earlier."

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