US dollar back to where it started US trading
It was a two-part trade in New York hours today.
1)
The early part of the day was a round of US dollar buying on hopes/expectations that the FOMC would drop a tantalizing hint about December rate hike in the FOMC Minutes. It meant steady US dollar buying and included 30-40 pip US dollar gains across the board.
2)
The hint didn't come. The US dollar has now given back the gains from the early part of the day to trade virtually flat.
Greg highlights what we should be looking at next. Rather that focusing on the US dollar side of the equation, the market will be focused on what's going on in Europe, Japan and elsewhere.
