Federal Reserve Minutes Help Dollar Hold Gains – 21 August, 2019

Ahead of U.S. Federal Reserve Jerome Powell’s in depth talk about rate cuts later this week, the dollar held gains when notes from the last policy meeting addressed expectations on the future of the cuts. Against the yen, the dollar was firm at 106.50 yen, gaining 0.36%. Versus the offshore Chinese yuan, the dollar last traded at 7.0694 yuan. The onshore yuan opened slightly higher than its last close of 7.0633 at 7.0635 per dollar. The dollar was just under a two week high against the Swiss franc at 0.9829, while sterling dipped to 91.39 pence per euro and on course for its second day of declines. Sterling was little changed against the dollar at $1.2127.