The US Dollar remains stable as traders react to the latest FOMC minutes which confirm Chairman Powell's cautious outlook on inflation and interest rates. Vice Chairman Jefferson noted the Fed's deliberation time for future moves. However, a potential new trade deal with China raised concerns that could negatively impact the dollar. Meanwhile, US Treasury yields dipped slightly, with continued support expected in light of the Fed's hawkish positioning, although upcoming PMI and consumer sentiment data may shift market expectations about rate cuts.
The latest FOMC minutes highlighted a cautious approach to monetary policy, with emphasis on inflation risks and resilient economic growth, keeping interest rates steady.
Despite potential for a new trade deal between the US and China, which may alleviate trade tensions, the dollar remains under pressure as market conditions evolve.
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