Source: ForexYard
The Greenback made some gains over its currency rivals after minutes from the FOMC Meeting in March showed signs that Monetary officials were moving away from the idea of additional easing.Prior to the FOMC meeting minutes, the greenback was trading slightly down
The Euro fell to its biggest loss since early March versus the U.S Dollar as it dropped approximately 0.8 percent to $1,3231.
The other Major making moves was the Australian Dollar, after news that the Royal Bank of Australia decided to leave interest rates unchanged.This outcome had a negative impact on the Aussie and as a result, weakened against the U.S Dollar dropping to $1,0309 which was a 1.1 percent decline.
According to reports out of Australia, growth was moving at a slower rate than expected,therefore prompting the RBA not to tamper with the interest rates, thus causing the Aussie Dollar to show some downward movements.
As we move into the middle of the trading week, a number of economic calendar events are due for release including Europe’s Interest Rate Decision,ECB Press Conference, ADP Non-farm Employment Change.
Forex Market Analysis provided by ForexYard.
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