EURUSD: Dollar holds steady as Fed minutes emerge

The US dollar remained steady today, providing some respite for the yen and other major currencies after rising to a seven-week high last week. Market participants are taking a moment to assess the future trajectory of US interest rates.

Investors are awaiting the release of the minutes from the Fed’s September meeting today, which will reveal the discussions that led to a 50 basis point rate cut, agreed by all but one policymaker amid a seemingly worsening labour market.