USD Weakens on Dovish FOMC
The dollar weakened in early European trading Thursday, trading near two-week lows after minutes of the Federal Reserve’s March policy meeting pointed to continued loose monetary policy. The FOMC echoed the bank’s cautious approach to its policy despite acknowledging America’s quick recovery. Also weighing on the greenback has been the recent slide in bond yields.
Safety concerns about AstraZeneca’s vaccines are weighing on the euro and the pound. Regulators in the UK and the EU have concluded that there is a link between AstraZeneca’s jabs and rare cases of blood clots. The UK recommended refraining from using the firm’s inoculations in the under 30s.
Federal Reserve Chair Jerome Powell is set to speak later in the day. US jobless claims are eyed. European Central Bank’s meeting minutes, which will likely echo the ECB’s commitment to keeping long-term interest rates low, is also due.
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