The U.S. dollar was seen trading mixed as the dollar weakened against the yen and the price action against the euro was subdued. On the economic front, data was also limited. The Fed Chair, Janet Yellen spoke yesterday where she said that the central bank was reasonably close towards achieving its dual mandate. Yellen said that interest rates in the U.S. will start to rise gradually. However, her comments did not move the markets much.
Looking ahead, the U.S. durable goods orders data will be coming out today. Economists polled expect to see core durable goods orders rise 0.4% on the month, slower than 0.7% increase seen the month before. Headline durable goods orders are also expected to rise just 0.4% on the month after rising 2.0% previously.
The FOMC meeting minutes will be the main highlight of the day. However, the Fed’s minutes are unlikely to show any surprises. Later in the day, New Zealand’s retail sales data will be released.
