What was billed as a bit of a non-event from the FOMC minutes had a big old spike on the US Dollar. Watch a 3 minutes video from Stuart Cowell on this from the 22 February USD Intraday Technical Analysis.
22 February, HotForex – The dollar firmed against the major currencies in early trading today. This followed the release of Fed minutes which showed that officials sounded more upbeat about the US economy. These sentiments bolstered analysts’ estimates that more rate hikes were coming.
After the release, the dollar index which tracks the dollar against major currencies rose to the highest level since February 13. Traders now expect the Fed to raise rates in their March meeting.
22 February USD Intraday Technical Analysis (+Video)
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