Impact of FOMC Minutes on USD’s performance

The U. S. dollar is rising marginally from the lows of the day on the release. Prior to the FOMC minutes.

The U. S. dollar had eased back from a one year high as longer-dated Treasury yields fell after US inflation data, although data shows that prices rose solidly in September, advancing expectations for Federal Reserve tightening.

The U. S. dollar has been ripe for bearish pickings considering how far it has come in just a couple of weeks, rising some 1.7% and running into a wall of resistance as per the September 2020 highs.

Meanwhile, the Fed funds futures indicate > 95% chance for Dec 22, ~70% chance for a Nov 22 rate hike. That’s a big increase versus last week.