Not much ado about anything!

The markets were very hesitant in anticipation of the FOMC minutes release. Wednesday morning’s conservative price action across the majors was typical of pre-release news days. When 1:00 CDT finally hit, the minutes release pushed the Dollar into a bull position for a very short time period before momentum was lost and the Greenback fell back to current levels. Still holding onto its multi-year highs, the EUR/USD pair pulled back to trade in a 30-point range above 1.3415. Elsewhere, the Dollar made a 50-point advance against the Japanese Yen that stalled out after a failed attempt at overtaking resistance at 119.50. Last but not least, the GBP/USD advanced on preliminary reports suggesting the British government will waive taxes on repatriated funds for domestic firms’ foreign revenues. The Pound rallied 110 points against the Dollar to 1.9820 through the Asian session. With the closing of the very slow American session, traders are looking for any movement in the next few days.