Forex - Dollar little changed, Fed minutes still weigh
Investing.com
Published Feb 24, 2017 02:18AM ET
Dollar holds steady vs. rivals amid rate hike uncertainty
Investing.com - The dollar was little changed against other major currencies on Friday, as the minutes of the Federal Reserve’s latest policy meeting continued to weigh on the greenback, as well as Thursday’s downbeat jobless claims report.
EUR/USD was steady at 1.0587.
Late Wednesday, the minutes of the Fed’s January policy meeting showed that policymakers thought it may be appropriate to raise interest rates again "fairly soon."
However, the minutes also revealed the central bank’s uncertainty over the lack of clarity of the Trump administration's economic program, dampening demand for the greenback.
The dollar was also weighed by a report by the U.S. Department of Labor on Thursday showing that initial jobless claims increased by 6,000 to 244,000 last week. Analysts had expected jobless claims to rise by 2,000 to 241,000.
GBP/USD eased 0.09% to trade at 1.2546, off a two-week high of 1.2571 hit overnight.
Elsewhere, USD/JPY rose 0.23% to 112.87, after falling to a two-week low of 112.53 on Thursday.
USD/CAD was almost unchanged art 1.3101, as investors eyed the release of Canadian inflation data, due later in the day.
Market participants were also awaiting reports on U.S. new home sales and consumer sentiment, expected later Friday.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 100.94.
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Written By: Investing.com
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