Last night’s Fed minutes from the meeting earlier this month displayed a central bank willing to accelerate their pace of reduction and, in turn, the raising of interest rates if inflation continues to remain persistently high. The minutes proved to be mildly hawkish and allowed the greenback to hold on to the gains it had accumulated across the day.
Today US participants will be away from their desks observing the Thanksgiving holiday. As a result, no US dollar payments can be delivered today but the USD can be traded. Conditions across the foreign exchange market will likely be muted. However, the caveat is that there could be exaggerated movement should any significant developments.
Written by Viv Savani. 8:29am, November 25th 2021
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