European Session – Dollar under 120.00 yen ahead of FOMC minutes

The market’s main focus is on the FOMC minutes later tonight, leading to dollar weakness and a reversal of Tuesday’s gains during the European session. Despite broad dollar weakness, the euro was unable to resurface above 1.0900 even though Eurozone retail sales data were in line with expectations. The figures showed a lower reading in February, dropping 0.2% on a month-on-month basis, versus January’s 1.1% rise. On a year-over-year basis, retail sales rose 3.0% also in line with forecasts. Other [..]