- January 4, 2023
- Posted by: Stratford Team
- Category: Economy
© Reuters.
By Peter Nurse
Investing.com – The U.S. dollar weakened Wednesday, handing back some of the previous session’s outsized gains, with traders looking for fresh clues on future U.S. monetary policy from the minutes of the Federal Reserve’s December meeting.
At 02:55 ET (07:55 GMT), the , which tracks the greenback against a basket of six other currencies, fell 0.7% to 103.638.
The dollar index climbed 1% on Tuesday as sentiment was dented by a warning from the International Monetary Fund about a likely global recession in 2023, given economic slowdowns in the main growth-driving regions of the U.S., Europe, and China.
However, this dollar strength seems to have run out of steam, with markets now awaiting the release of the Federal Reserve’s meeting from December later in the session.
The hiked interest rates by 50 basis points in December, a slower pace than the four previous meetings, and these minutes could help shed light on what…
