The US dollar has seen some moderate weakness following the Federal Reserve minutes, released last night, and in anticipation of the forthcoming US-China summit.
The markets were left disappointed by the lack of detail in the Fed’s minutes with regards to the discussion on reducing the central bank’s balance sheet.
Yesterday, prior to the central bank’s release, US stocks rose to a two-week high and the S&P 500 advanced after ADP Research Institute data showed a surge in payroll numbers last month. The US dollar followed suit and gained against a basket of currencies. In other news, 10-year treasury notes increased less than one point to 2.37%.
Markets today are firmly focused on the US-China summit and the US non-farm payrolls, which are due out this Friday.