US Dollar Rebounds On

According to the FOMC minutes, the Fed’s voting members noted "when prospects for growth had improved, a reversal of a portion of the recent easing actions, possibly even a rapid reversal, might be appropriate". They said a low rate "now appeared appropriate for a time". They agreed that inflation was likely to moderate in coming quarters. Oil touched $100 yesterday and US CPI have ticked higher. However, they could raise rates again, like they noted in the FOMC minutes, which could give USD some support.

In the forex market, USD/CHF has to break above 1.1060 in order to target 1.1120 next, and if the latter is broken, the currency pair could gain more bullish steam.