What Yield Drop Ahead Of Fed Minutes Means For US Dollar – Investing.com

What Yield Drop Ahead Of Fed Minutes Means For US Dollar – Investing.com

The June FOMC meeting minutes is one of this week’s key event risks. The Federal Reserve grew less dovish last month by opening the door to the discussion of reducing asset purchases, but since then disappointing U.S. data has investors questioning the timing of taper and ruling out an interest rate hike. Although Friday’s nonfarm payrolls report showed the strongest job growth in 10 months, average hourly earnings and the jobless rate fell short of expectations. Today, the Institute of Supply Management reported a slowdown in service sector growth with its falling from 64 to 60.1. This was not only weaker than anticipated, but the worse reading in four months.