Dollar spared another drubbing as Fed.........>

FOREX: Dollar spared another drubbing as Fed become more confident on inflation

-After spending the bulk of the session lower, the FOMC minutes rescued the

dollar from a 4th consecutive day of declines as the FOMC grew in confidence

that US inflation would strike target in the coming few months. As a result,

GBP/USD and EUR/USD fell through the overnight lows, but still well above the

worst levels of the week.

-Oil-tied FX had another strong session, with NOK and CAD outperforming as the

DoE crude inventory numbers lifted WTI futures to late-2014 highs. USD/CAD

briefly dropped below C$1.2550 before the FOMC minutes lifted the dollar back

into the green.

-USD/JPY remains lower with JPY one of the strongest currencies of the day as

sabre-rattling toward Syria continued - Trump explicitly warned that missile

strikes were imminent: "they will be coming". As a result, equities crumbled,

dragging USD/JPY with it.

-Tomorrow, a speech from BoJ's Kuroda, BoE's Broadbent & Carney and ECB's Coeure

& Weidmann are due to speak.