Dollar mixed ahead of FOMC minutes release

Dollar mixed ahead of FOMC minutes release

The US data schedule is light today with JOLTs due out this morning and FOMC minutes to be released this afternoon. Investors will pay attention to any signs of tapering of asset purchases and inflation targets following the slightly more hawkish comments last month. The dollar is down versus the Canadian dollar and mixed versus the pound and euro.

“Do not follow where the path may lead. Go instead where there is no path and leave a trail.” 

Ralph Waldo Emerson
  • FX Rates
    July 7, 2021

    Rates are not real time. Rates are today's indicative mid-market rates as of time of publishing, which may vary. Please contact SVB for a current quote.


  • USD

    The dollar is mixed ahead of FOMC minutes which are due to be released this afternoon. Markets will look for any hints regarding tapering of asset purchases and the expected path for inflation.

    GBP

    The pound climbed versus the dollar this morning following optimistic comments by PM Johnson that despite an uptick in Covid cases last week, the UK economy is still on track to fully reopen on July 19.

    EUR

    After giving up ground yesterday, the euro holds steady around its 3-month low weighed down by falling euro bond yields and Delta variant risks.

    CAD
    The Canadian dollar gave up ground to US dollar demand yesterday and as oil prices softened.
    ASIA/PACIFIC
    In China, the offshore yuan is stronger following reports that China is considering a cut to the reserve requirement ratio to fuel economic recovery.
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Kathryn Garvey
WRITTEN BY
Kathryn Garvey

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