Flash: EUR/USD rally caps – Investec

FXstreet.com (New York) - The week sparked in to some sort of life yesterday as EUR/USD came within a whisker of June’s highs at 1.3445 before stabilizing somewhat overnight, notes Jonathan Pryor, Corporate Treasurer at Investec.

Key quotes

The continued dollar weakness appears to be as a result of investors expecting today’s FOMC minutes to keep alive the debate about when the Federal Reserve will begin tapering (as it stands this is widely priced in for next month).

“For those that are convinced the Fed will go ahead and definitely start tapering, tonight’s minutes are more about clues for how much they will taper, rather than if it’s going to happen or not.”