GBPUSD: The USD stabilized awaiting the minutes of the Fed's DecThe dollar hovered near a two-week high in early European trading on Wednesday ahead of the release of the Federal Reserve's December meeting minutes.
At 4:10 p.m. ET, the U.S. dollar index, which tracks the greenback against a basket of six other currencies, was trading 0.1% higher at 101.959, after gaining just under 1% on Tuesday. This was a personal high. performance of the day. From March 2023.
The dollar has rebounded to start the year, helped by rising U.S. Treasury yields, with the benchmark 10-year Treasury yield hitting its highest level in more than two weeks in early trading.
Risk aversion pushed the S&P 500 and Nasdaq Composite Index to their first trade of 2024 as investors worried that the minutes of the Federal Reserve's December meeting, scheduled to be released next Wednesday, might not be as dovish as previously expected. We finished in the red. "The market is abandoning some dovish bets, questioning inflated stock valuations, and ultimately turning to defensive bets in the foreign exchange market," ING analysts said.
