AUD/USD, USD/JPY Taking Advantage of US Dollar Weakness
- AUDUSD continues breakout towards 0.9500.
- USDJPY risks losing critical channel support at 101.50.
- Forex economic calendar picked up on Thursday.
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The March FOMC minutes highlighted a noticeably more cautious tone among policymakers, who pushed back against the recent interest rate elevation in the United States, hurting the US Dollar. Citing the market's interpretation of the economic forecasts as too optimistic for the purported interest rate hike path, the minutes released yesterday were not the hawkish panacea the US Dollar was looking for.
The forex economic calendar is heavier today, and I'll be kicking off coverage of the GBP Bank of England Rate Decision at 06:45 EDT/10:45 GMT in the DailyFX Live Trading Room. Join for a discussion of trading setups in GBP-based pairs.
--- Written by Christopher Vecchio, Currency Analyst
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