Dollar dips after Fed minutes as U.S. data awaited Investing.com – The dollar edged lower against a basket of the other major currencies on Thursday after the latest Federal Reserve meeting minutes showed a rift on the future pace of rate hikes and as markets awaited U.S. data later in the day.
The European Central Bank was to release the minutes of its June policy meeting later in the day with investors on the lookout for any changes to the banks forward guidance.
The dollar pushed higher against the yen, with rising 0.14% to 113.44, not far from the seven-week high of 113.68 set on Wednesday.
Sterling gained ground against the dollar, with adding 0.22% to trade at 1.2962.
The minutes of the Fed’s June policy meeting released on Wednesday showed over the outlook for inflation and how it could impact on the future pace of interest rate increases.
FOREX-Dollar fall back next soft America labor market information
The employment index, however, fell to 55.8, compared with 57.8 in May, suggesting a cooling labor market.
“This could potentially manifest as a continuation of weaker-than-expected employment data this Friday.”
The U.S. services sector index, released by the Institute for Supply Management on Thursday, rose to 57.4 in June, compared with a forecast of 56.5.
In late trading, the dollar index was down 0.5 percent at 95.828 .
On Wednesday, the latest Fed minutes showed policymakers were split on the outlook for inflation and how it might affect the future pace of interest rate rises.
Dollar slips lower next America information By Investing.com
Dollar slips lower after U.S. dataInvesting.com – The dollar edged lower against a basket of the other major currencies on Thursday after , while slightly more hawkish European Central Bank minutes supported the euro.
A separate report showed that unexpectedly rose by 4,000 to 248,000 last week.
The dollar was a touch lower against the yen, with last at 113.22, off the seven-week high of 113.68 set on Wednesday.
Another report showed that the in May as exports increased.
The ADP figures come ahead of the U.S. Labor Department’s more comprehensive non-farm payrolls report on Friday which is expected to show jobs growth of 179,000 in June.
collected by :kiven Dixter