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20 May 2015
GBP/USD higher after Fed minutes
FXStreet (Córdoba) - Cable initially dropped to 1.5489 after the release of the FOMC minutes, but then bounced to the upside and climbed to 1.5566, area located below daily highs.
Greenback initially gained momentum but quickly erased gains. The US dollar is still up for the day against many currencies (far from the highs), but not versus the pound. GBP/USD currently trades at 1.5540/50, up 40 pips from yesterday's closing price, headed toward the first daily gain since last Thursday and giving signs of short term stabilization above 1.5450.
USD retreats as Fed outlook remains unclear
According to the minutes from the latest FOMC meeting showed that only “a few” members anticipated data would support a June rate hike, while many participants thought that was unlikely. There are different views among FOMC members about the likely timing and pace of a rate hike. The date of the first rate hike is not clear.
Greenback initially gained momentum but quickly erased gains. The US dollar is still up for the day against many currencies (far from the highs), but not versus the pound. GBP/USD currently trades at 1.5540/50, up 40 pips from yesterday's closing price, headed toward the first daily gain since last Thursday and giving signs of short term stabilization above 1.5450.
USD retreats as Fed outlook remains unclear
According to the minutes from the latest FOMC meeting showed that only “a few” members anticipated data would support a June rate hike, while many participants thought that was unlikely. There are different views among FOMC members about the likely timing and pace of a rate hike. The date of the first rate hike is not clear.