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Fed Minutes Weigh on Dollar, Pound Numb to Brexit Extension


Thursday, 11 April 2019 08:24 WIB

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The dollar held near two-week lows on Thursday as Federal Reserve minutes reinforced dovish policy expectations while the pound held recent ranges after European leaders extended the deadline for Britain to leave the union, averting a no-deal Brexit.

Currency markets are also awaiting a blast of economic data from the world's second-largest economy with March Chinese trade figures due on Friday and first quarter gross domestic product due next week.

The U.S. dollar lacked momentum, with its index against six other currencies hovering near a two-week low, after the minutes from the Fed's last meeting enhancing expectations of a dovish policy stance.

The British pound traded at $1.3095, unchanged on the day and staying in a triangle holding pattern between $1.2945 and $1.3380 during the past month or so.

The dollar index last stood at 96.900, having slipped to a two-week low of 96.823 on Wednesday.

The dollar slipped to 110.95 yen, having fallen 0.68 percent so far this week.

The euro last held at $1.1276, recovering from Wednesday's low of $1.22295, keeping intact its slow uptrend from $1.1183 touched on April 2.

It is up 0.52 percent so far, which will be its first weekly gains in four weeks if sustained.

The Australian dollar stood at $0.7169, having hit a six-week high of $0.7175 as concerns about slowdown in China ease.

Source : Reuters


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