Daily Morning Report 21.05.2015

The euro was steady at two-week lows against the dollar on Thursday after the minutes of the Federal Reserve’s latest meeting did little to alter expectations that it will hold off on raising rates until later this year.
EUR/USD was at 1.1093, not far from Wednesday’s two-week lows of 1.1061.
The dollar remained supported after the minutes from the Fed’s April meeting showed that most officials believed a June rate hike would be premature after recent data showed that the economy grew just 0.1% in the first quarter.
Most policymakers also believe economic growth will rebound after the slow start to the year and that the labor market will strengthen.
Investors were turning their attention to Friday’s U.S. inflation data and a speech by Fed Chair Janet Yellen for fresh indications on how the economy is performing.
The euro remained under pressure after falling sharply in the previous three sessions amid renewed concerns over the prospects of a Greek default.
On Wednesday a Greek government official warned that Athens will be unable to make a €305 million payment to the International Monetary Fund due on June 5 if a cash-for-reforms deal with its international lenders is not reached by then.
Elsewhere the dollar was lower against the yen, with USD/JPY down 0.23% to 121.07, off Wednesday’s two-month highs of 121.47.

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