The U.S. Dollar was lower across the board on Thursday, as markets reacted to the latest Fed minutes.

The Federal Open Market Committee confirmed that it could be prepared to pivot from aggressive rate hikes in coming months.

Yesterday’s minutes showed that, “A substantial majority of participants judged that a slowing in the pace of increase would likely soon be appropriate.” 

The minutes went on to say that, “The uncertain lags and magnitudes associated with the effects of monetary policy actions on economic activity and inflation were among the reasons cited regarding why such an assessment was important.”

GBPUSD is currently trading at a three month high, with EURUSD nearing a five month high.

 

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