Forex Market Update : Epic Research Singapore

The U.S. dollar turned lower against rivals Wednesday afternoon after the FOMC released minutes from its September meeting, revealing that members raised concerns that a one-two punch of a strong dollar and stagnant growth abroad could impede U.S. growth.

The ICE U.S. Dollar Index DXY, -0.22%  , a measure of the greenback’s strength against a basket of six rivals, was down 2 basis points at 85.8600 Wednesday, compared to 85.6720 Tuesday evening.

After hitting a three-week low late Tuesday, the dollar USDJPY, -0.26%  recovered against the yen, trading at 108.25 yen Wednesday morning, up from ¥107.83 Tuesday evening.

The euro EURUSD, +0.13%  gained against the dollar after the minutes, trading at $1.2727 Wednesday, compared to $1.2683 Tuesday evening, extending gains that analysts say are the result of a correction following a large decline in the euro-dollar pair Friday.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg