Dollar Little Affected by FOMC Minutes, USD/JPY Unable to Reach 100

Thursday, April 11, 20130 comments

The US dollar rose a little against the euro today, paying almost no attention to the yesterday’s Federal Open Market Committee minutes. The currency halted its rally versus the Japanese yen, unable to reach the 100 yens per dollar level.
The FOMC minutes were released prematurely yesterday as they were accidentally leaked to those who usually receive them by e-mail. The minutes showed that some policy makers favor reduction of quantitative easing by the year-end. It had little impact on the Forex market, perhaps because the last policy meeting occurred before the poor employment report, which gave incentive for the central bank to keep stimulus.
Traders carefully watch USD/JPY currency pair as it nears the psychologically important 100 level. This level was last reached in April 2009. So far, the dollar seems reluctant to go near that rate, but it may change later.
EUR/USD edged down from 1.3067 to 1.3056 as of 3:56 GMT today. GBP/USD was little changed at 1.5326. USD/JPY retreated from 99.75 to 99.54.
If you have any questions, comments or opinions regarding the US Dollar, feel free to post them using the commentary form below.
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