This week, the US dollar’s fate rests on the US Fed, with several of its officials speaking and the minutes of the US central bank’s last monetary policy meeting due to be released tomorrow.
US dollar has been mainly bolstered by generally solid US economic data that has backed the Federal Reserve’s monetary policy tightening stance this year.
Investors will focus on the Fed’s inflation outlook which will determine the interest rate.
Closer to home, the New Zealand dollar slipped yesterday after data showing slower than-expected retail sales cast a shadow over the pace of broader economic growth, while the Australian currency hovered close to key chart resistance.
Tomorrow, Reserve Bank of Australia’s Governor, Philip Lowe will be giving his speech in the morning followed by New Zealand’s Trade Balance releases for the month of April later in the evening.
So we’ll wait to see how these releases affects our Fiji Dollar tomorrow.