Forex

Investing.com - The U.S. dollar edged higher Wednesday, bouncing from recent weakness with a number of Fed officials set to speak.

At 04:20 ET (08:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% higher at 105.500, climbing away from last week’s roughly one-month low.

The dollar received a minor boost late Tuesday after Minneapolis Fed boss Neel Kashkari suggested that stubborn inflation... (continue reading...)

By Karen Brettell and Amanda Cooper

NEW YORK/LONDON (Reuters) -The dollar gained on Wednesday as investors continued to bet on the U.S. economy outperforming peers and was higher for the third day against the Japanese yen, keeping investors wary of the risk of intervention from Tokyo.

In Europe, the Swedish crown came under pressure after the central bank cut interest rates and said it expected two more cuts this year, while the pound was... (continue reading...)

Thursday's BoE meeting is seen as the key driver for GBP, according to analysts at ING. They see EUR/GBP trading in a 0.8550-0.8600 range and upside risks on a BoE dovish surprise on Thursday.

"Were it not for the comments of Bank of England Chief Economist, Huw Pill, markets would be a lot more excited about a dovish shift in communication at Thursday's BoE policy meeting. As it is, our core view is that it will still be a little early for the BoE to shift its... (continue reading...)

1.08 is sees as fair value for EUR/USD over the medium-term, said analysts at ING.

"EUR/USD had a decent jump on the slightly softer-than-expected US jobs data on Friday. Yet unless US unemployment rises 'meaningfully', it will have to be the US price rather than the activity data, which determines the next big trend for the Fed and the dollar. As such, next week's April US CPI data will probably be the next sizeable mover for global FX rates. Before then, the eurozone... (continue reading...)

The softer NFP data last week was not enough to turn the dollar trend, said analysts at ING. They sees support for the currency this week.

"It looks like Friday's slightly softer US jobs report has been enough to put paid to any ideas of a Fed hike this year. And Fed officials have also been keen to dampen speculation over a possible hike. And whilst the pricing of the Fed easing cycle this year has grown (45bp of cuts now expected for this year), the biggest impact of... (continue reading...)