Important events today:

19:00 UTC – US: Minutes from the latest US Federal Reserve meeting.

The background for today is mixed. On the one hand, we can expect the quotes growth at the background of the positive dynamics at the debt market, where the British government bond yields are growing and the US securities yields, although moderately, but still decreasing. Such dynamics has been observed for three trading days in a row.

On the other hand, the Fed is to release the minutes of its latest meeting in the evening, which may cause a local strengthening of the dollar. The Fed will point to the risks of inflation and the need for further aggressive interest rate hikes. At the September meeting, the rate may rise either 0.5% or 0.75%, which will be the highest in 14 years. Since the Bank of England is not planning to raise interest rates that aggressively, it is a positive factor for the dollar.

Recommendations: flat 1.2060 – 1.2150.