The dollar fell to session lows against the euro and the pound on Wednesday, ahead of minutes from the Federal Reserve’s latest meeting and a keenly anticipated speech by Fed Chairman Ben Bernanke. During U.S. morning trade, the dollar fell to session lows against the euro, with EUR/USD advancing 0.52% to 1.2846. The dollar looked likely to resume its recent strengthening trend if the minutes of the Fed’s June meeting and Ben Bernanke reiterated that the U.S. central bank is close to tapering its USD85 billion-a-month asset purchase program. Data last week showing that the U.S. economy added more jobs than expected in June reinforced the view that the recovery in the labor market is on track. Last month Bernanke said the Fed could begin to scale back its stimulus program by the end of the year is the economy continues to pick up.
Posted on: Wed, 10 Jul 2013 15:03:20 +0000
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