{"id":46760,"date":"2013-08-21T09:01:00","date_gmt":"2013-08-21T09:01:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-up-ahead-of-feds-minutes\/46754\/"},"modified":"2013-08-21T09:01:00","modified_gmt":"2013-08-21T09:01:00","slug":"forex-market-update-dollar-index-up-ahead-of-feds-minutes","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-up-ahead-of-feds-minutes\/46760\/","title":{"rendered":"Forex Market Update: Dollar Index Up Ahead of Fed\u2019s Minutes"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>The dollar index rose while the U.S. dollar recovered from its six week low level against the euro on Wednesday amid expectation that the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s minutes from the most recent open market committee meeting (FOMC) could signal tapering of the bond purchase program from the next month.<\/p>\n<p><span id=\"more-46760\"><\/span><\/p>\n<p>At last check, the dollar Index, a gauge on U.S. unit\u2019s performance against a basket of six major currencies, rose 0.18% to 81.09.<\/p>\n<p>The Fed is expected to release its minutes at 2:00 p.m. EST.<\/p>\n<p>It widely speculated that despite absence of any inflationary pressure, the policymakers could eventually start the pullback of the economic stimulating measures as the labor market has been showing gradual recovery. Several policymakers earlier this month hinted at possible start of the tapering process in any of the this year\u2019s remaining three FOMCs.<\/p>\n<p>\u201cThe Fed minutes are very important, and perhaps some are getting worried that risks are tilted towards a disappointment,\u201d said Danske Bank FX strategist Kasper Kirkegaard, according to Reuters.<\/p>\n<p>\u201cOur main scenario is that the Fed will begin tapering in September. If the Fed shows any concerns about low inflation or that they need to see a further improvement in the labour markets before tapering, it could send the dollar lower,\u201d added Kirkegaard.<\/p>\n<p>Against the euro, the dollar was last up 0.25% to trade at $1.3384 while the dollar was last up 0.22% against the Japanese <a href=\"http:\/\/www.knowfinance.com\/currency\/\" target=\"_blank\" rel=\"noopener\">currency<\/a> to trade at 97.48 yen.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-up-ahead-of-feds-minutes\/46760\" data-title=\"Forex Market Update: Dollar Index Up Ahead of Fed\u2019s Minutes\"><\/div>\n<p><script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130824000120js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> <\/p>\n<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a><br \/>\n<a class=\"addthis_button_preferred_2\"><\/a><br \/>\n<a class=\"addthis_button_preferred_3\"><\/a><br \/>\n<a class=\"addthis_button_preferred_4\"><\/a><br \/>\n<a class=\"addthis_button_compact\"><\/a><br \/>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n<p><script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script><br \/>\n<!-- AddThis Button END --><\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-higher-21\/46831\"><br \/>\nStocks End Higher<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-rally-after-weak-new-home-sales-data-silver-prices-also-rally\/46827\"><br \/>\nGold Prices Rally After Weak New Home Sales Data; Silver Prices Also Rally<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-trim-gains-after-new-home-sales-data\/46824\"><br \/>\nStocks Trim Gains After New Home Sales Data<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-edge-higher-in-early-trading-26\/46819\"><br \/>\nStocks Edge Higher in Early Trading<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-inches-up\/46816\"><br \/>\nForex Market Update: Dollar Index Inches Up<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-edge-higher-14\/46812\"><br \/>\nGold and Silver Prices Edge Higher<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-futures-flat-2\/46808\"><br \/>\nStocks Futures Flat<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130824000120im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script--><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>The dollar index rose while the U.S. dollar recovered from its six week low level against the euro on Wednesday 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