Dollar remains steadfast ahead of Fed Minutes release

Investors are eagerly looking ahead today to the release of the FOMC meeting minutes from the last meeting for an indication of where the Fed rate journey is headed. Markets are expecting a smaller rate hike of 50 basis points after the Fed raised rates four times in a row by 75 basis points.

The dollar index is now stable above the 107 mark before the publication of the data. Statements by Fed Chairman Jerome Powell are also currently supporting the dollar, who most recently said that interest rates must continue to rise, but that this could happen in smaller steps.

The view was also confirmed by the movement of the U.S. markets, which recently rallied all together again. The Dow rose by 1.18%, the S&P 500 by 1.36% and the Nasdaq by 1.36%.

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