The US dollar clung to overnight gains today, after minutes from last month’s U.S. Federal Reserve meeting gave few clues about whether an even more dovish shift in its policy framework is possible in the autumn, disappointing some dollar bears, Reuters reports. After hitting an 18-month high of US$0.7275 before the meeting, the Australian dollar tumbled back below 72 US cents and last sat at US$0.7186. The New Zealand dollar dropped almost 1.4 percent from its intraday high to sit at US$0.6561. The euro - the most stretched of all recent gainers on the greenback - fell by 0.7 percent overnight to trade back below US$1.19. The pound was dumped back to US$1.3103 and the dollar jumped 0.7 percent on the yen to 106.13.

Source: The Standard August 20, 2020 05:26 UTC