Credit Agricole CIB Research discusses its expectations for today's FOMC minutes from the April meeting.
"On the day, focus will be on the release of the April FOMC minutes and a speech by Fed’s Bullard and Bostic. We think that we will get to more of the same with the FOMC still of the view that this is not the right time to debate QE taper or frontloading policy normalisation," CACIB notes.
"With many negatives in the price of the USD by now, we suspect that the impact of the dovish Fed speak on the USD could be limited. Moreover, dovish rhetoric from other central banks could limit the gains of other G10 currencies," CACIB adds.