FX activity was extremely muted ahead of the FOMC minutes release, leaving major Dollar pairings largely inside of narrow ranges. Better U.S. housing data supported the USD some through the morning. Later, the dollar showed minimal reaction to the minutes, which didn’t reveal strong clues as to the rate path going forward. USD-JPY wiggled between 106.57 and 106.45, then settled to net unchanged near 106.50. EUR-USD meanwhile, dipped from 1.1094 to session lows of 1.1081, then bounced right back to 1.1095.
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