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Dollar slips as traders await FOMC minutes

The U.S. Dollar Index was down 0.2% near 99.45, approaching its two-month low of 99.29.

Reported · Written up by our desk · Major Pairs

The U.S. dollar traded lower against major peers on Wednesday as investors looked ahead to the release of the Federal Open Market Committee minutes from the July meeting, scheduled for 18:00 GMT, according to FXStreet.

At press time, the U.S. Dollar Index, which tracks the greenback versus six major currencies, was down 0.2% to around 99.45, moving closer to a two-month low of 99.29 set on Monday.

FXStreet said expectations for the FOMC minutes were tempered because Chairman Kevin Warsh was described as remaining committed to a no forward guidance approach, and market experts expected limited impact on Fed interest rate expectations.

In technical terms, the Dollar Index Spot was around 99.43 and extended its decline below the 20-period exponential moving average near 100.03, while the RSI was about 35.95, suggesting bearish pressure but possible signs that selling momentum could be nearing exhaustion, the outlet added.

Latest closeDollar index 99.64 ▼0.3%

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