020 7898 0500Yesterday was a very quiet day for US dollar movement and US market data because of the Independence Day holiday. The dollar remained range-bound against a basket of currencies.
Elsewhere, North Korean leader Kim Jong-un commented on tensions between the US and China.
EUR/USD was under some selling pressure for the third consecutive day yesterday and traded at multi-day lows near 1.1335. GBP/USD traded within a 50-pip range, with highs of the day at 1.2960 and lows coming in at 1.2912.
Today we have the release of the meeting minutes from the last Federal Reserve Open Market Committee meeting, in the evening our time. These will be very carefully scrutinized as the committee voted to increase interest rates at their last meeting and are expected to do so once more this year. However with worsening US economic data being released the markets are beginning to wonder if this will be the case.
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