Dollar Slumps Ahead of FOMC Minutes Release

The US Dollar (USD) is trading lower against its major peers ahead of the Federal Open Market Committee's minutes release for their July meeting.

The Fed maintained the status quo in July, leaving interest rates unchanged at 3.50%-3.75%, citing upside inflation risks.

Market experts believe that the FOMC minutes will have limited impact on Federal Reserve interest rate expectations, as Chairman Kevin Warsh remains committed to a 'no forward guidance' policy.

Analysts at ING argue that while there may be a few hawkish references in the minutes, they do not see it as a game changer for the Dollar or short-dated rates.