• FOMC minutes mostly ignored by market participants, contains no surprises. 
  • USD/JPY moves lower after minutes, consolidating daily losses. 

The USD/JPY pair rose to 110.31 after the release of the FOMC minutes but then turned to the downside and dropped to 110.23, hitting a fresh daily low. As of writing it remains quiet, near daily lows, 25 pips below yesterday’s close. It is having the biggest loss in two weeks. 

The US dollar dropped marginally across the board after the release of the minutes. According to them,  the Fed’s patient approach is appropriate to policy for some time even in the case that global conditions improve. The minutes showed that many officials saw the decline in inflation as likely transitory. “A few participants noted that if the economy evolved as they expected, the Committee would likely need to firm the stance of monetary policy.” 

The minutes had no significant impact in the market. The US dollar continues to trade within the recent ranges, posting mixed results for the day. 

USD/JPY Short-term level 

To the downside, below the daily low the next support might be seen at 110.20, followed by 111.00/05 and 109.80 (May 20 low). On the upside, now 110.45 is a resistance and above attention would turn to 110.65/70 (May 21 high). 
 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD stabilizes around 1.1050 amid stimulus speculation

EUR/USD has drifted back to around 1.1050 as markets digest European talk of fiscal stimulus and as the fallout from the Fed's hawkish cut on Wednesday. 

EUR/USD News

GBP/USD advances toward 1.25 after the BOE, Brexit impasse

GBP/USD is trading closer to 1.25, marginally higher. The BOE left its interest rates unchanged in a unanimous vote. The bank stated that it assumes a smooth Brexit. Uncertainty about the UK's exit prevails.

GBP/USD News

USD/JPY keeps losses below 108.00 as BOJ disappoints the doves

USD/JPY keeps the losses below 108.00, as the Japanese Yen remains on the front foot in reaction to the Bank of Japan's (BOJ) status-quo that came in as a disappointment for the doves. 

USD/JPY News

Gold inches higher above $1,500 as US T-bond yields continue to slide

The troy ounce of the precious metal didn't have a difficult time recovering yesterday's losses but continues to trade in its weekly range and doesn't give any signals of a breakout in the near-term. 

Gold News

Bitcoin looks for volatility and shakes the bullish trend

The ruthless crypto market purges the weakest hands of the market –  or perhaps the fastest – and positions are liquidated to take profits after good gains in the short term.

Read more

Forex MAJORS

Cryptocurrencies

Signatures