Fed Lifts the Dollar, Data Hits the Euro
The dollar held its gains after Federal Reserve meeting minutes revealed some internal doubts about continued bond buying. [CNBC]
Talk that a large hedge fund was liquidating commodity positions also supported the dollar, but sent the Australian and New Zealand dollars tumbling. [CNBC]
A report on German private sector activity disappointed, as did one on the French services sector, sending the euro to a six-week low against the dollar. [CNBC]
Minutes from the recent Bank of England meeting showing more appetite for monetary easing continued weighing on the pound, which hit a 2 1/2 year low.[CNBC]
A better than expected U.K. budget surplus in January gave the pound some relief, but it remained weak. [dailyfx.com]
Egypt plans to invite an IMF mission to Cairo within a week, signaling willingness to negotiate over a loan amid an acute foreign currency shortage. [Reuters]
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