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The Federal Open Market Committee is due to release the minutes from its most recent policy meeting later on Wednesday. Investors will scour the minutes for any indications of Fed thinking, but Friday's monthly employment report will almost certainly carry more weight, analysts said. The dollar hovered around 144.3 yen, below the 145 level that prompted intervention by Japanese authorities last autumn. "However more broadly, it will provide support ... on expectations of an imminent policy response from Chinese authorities." The yuan headed for its first down day in four sessions in the offshore market, slipping 0.3% to 7.255 per dollar .
Persons: Adam Cole, Shusuke Yamada, RBC's Cole, it's, Tony Sycamore, Kevin Buckland, Shri Navaratnam, Helen Popper, Mark Heinrich Our Organizations: U.S, Federal, Fed, RBC, Treasury, Bank of America, Ministry, Finance, People's Bank of China, IG, Thomson Locations: synch, Tokyo, Beijing, Sydney
Sterling climbs as dollar rally wanes
  + stars: | 2022-11-22 | by ( Harry Robertson | ) www.reuters.com   time to read: +2 min
LONDON, Nov 22 (Reuters) - The pound rose on Tuesday after falling in the previous session, as the dollar retreated following three days of gains. Still, the U.S. currency was down against its major peers on Tuesday, with sterling rising 0.33% to $1.185. "The general picture is the dollar is just drifting a little bit lower after having a fairly strong rally yesterday, in the absence of any real news overnight," said Adam Cole, head of FX strategy at RBC Capital Markets. A large part of the rally in sterling has been driven by a fall in the dollar, with a cooling in U.S. inflation driving hopes that the Fed might slow down on its aggressive rate hikes. "I think it's more of a grind lower from here, rather than the sort of explosive losses we saw back in September," he said.
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