Forex – The dollar is rising but remains under pressure after the C-R of the Fed

© Reuters. – The greenback was up slightly on Thursday after the minutes of the last Fed meeting has been marked by reservations, which has led to a sharp drop in the dollar.

The dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.15% to 94,94 at 05: 00 (ET) (10: 00 GMT).

The December meeting of the Fed showed that many political leaders are in favour of the stability of the rates this year, and the possibility that there will be no increase in 2019. The dovish tone has brought the dollar to a three-month low of 94,63.

“Basically, the dollar is short of resources to move forward,” said Erik Nelson, a strategist in foreign exchange at Wells Fargo.

“The Fed has told us that it would probably be on the point of restraining interest rate increases, and we expect that the increase in growth observed in the United States last year will definitely be slowing down”, he added.

During this time, investors are also awaiting comments from the Fed chairman Jerome Powell, who is expected to speak at 12: 45pm (17: 45 GMT) at the Economic Club of Washington.

The euro was down as a result of the rise in the dollar, with EUR / USD down 0.15% to 1,1523. The pound sterling has also been put to the test, the difficulties of the Brexit continued to undermine the morale of the investors. The GBP / USD slipped 0.19% to 1,2761.

Elsewhere, the canadian dollar has fallen after reaching a peak of 1,3247 on Wednesday, when the Bank of Canada kept the interest rates unchanged. The USD / CAD has increased by 0.18% to 1,3231.

The australian dollar has increased, with AUD / USD rising 0.17% to 0,7182 and the NZD / USD to 0,6785.

-Reuters contributed to this report.

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