Bracing for Dollar strength in the aftermath of the FOMC minutes – ING

Another quiet trading session saw the Dollar grind higher yesterday. Today, economists at ING expect the USD to get a boost after the FOMC minutes.

FOMC minutes in focus

“The highlight of today’s session will be the release of the Fed minutes. It seems too early for the Fed to countenance easing – suggesting the Dollar will hold recent gains.” 

“And with EMFX on the back foot – e.g. USD/CNH trading up to 7.06 – we think this dollar correction could have a little further to run.”

“We would be bracing for Dollar strength in the aftermath of the FOMC minutes.”