Dollar broadly lower vs peers ahead of Fed minutes

Dollar broadly lower vs peers ahead of Fed minutes

8 April 2015, 12:58
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On Wednesday the greenback was down against its rivals, as demand for the greenback weakened ahead of the minutes of the Federal Reserve's latest policy meeting.

Investors awaited the Fed's upcoming meeting minuteslooking for signals on the central bank's next policy moves after Friday's downbeat jobs data fuelled uncertainty over the timing of a rate hike.

EUR/USD climbed 0.50% to 1.0869, even as data showed that retail sales in the euro zone fell 0.2% in February, in line with market expectations.

Retail sales rose 3.0% also in line with forecasts on a year-on-year basis.

Gasoline sales dipped for the first time since September, indicating that the boost to consumer spending from lower oil prices may be declining, according to the report.

Another report showed that German factory orders fell 0.9% in February, disappointing expectations for an increase of 1.5%. January's figure was revised to a 2.6% drop from a previously estimated 3.9% slide.

The pound was also higher, with GBP/USD advancing 0.83% to 1.4933.

The dollar was lower against the yen and the Swiss franc, with USD/JPY slipping 0.42% to 119.81 and with USD/CHF retreating 0.49% to 0.9613.

The Japanese currency was boosted after the Bank of Japan left monetary policy unchanged earlier Wednesday despite a slowdown in inflation.

The commodity-exposed Australian and New Zealand dollars were sharply higher, with AUD/USD rallying 1.05% to 0.7714 and NZD/USD jumping 1.30% to 0.7592 and the pair USD/CAD dropped 0.50% to trade at 1.2444.

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