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USD/JPY retreats sharply from 108.70 after FOMC minutes

FXStreet (Córdoba) - Greenback weakened across the board after the release of the FOMC minutes. USD/JPY was trading at daily highs above 108.70 but then turn sharply to the downside, falling more than 50 pips in minutes.

The pair dropped to 108.14, reaching the lowest price since the beginning of the American session and it was trading at 108.20, still under pressure as the US dollar reached fresh lows versus European currencies and also as US bond yields declined.

According to the minutes, FED officials were worried about economic growth around the world, as being a risk the US outlook and also some noted that a stronger USD could impact negatively on exports and growth.

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