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Major currencies hold steady ahead of Fed minutes, RBNZ - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Major currencies were holding steady on Wednesday, ahead of another day when central bank policy takes centre stage for traders with a Reserve Bank of New Zealand meeting and the Federal Reserve’s minutes from its recent meeting both due.

The dollar index, which tracks the greenback against six main peers, was at 106.46 in morning trade, having ended Tuesday largely unchanged.The dollar index, which tracks the greenback against six main peers, was at 106.46 in morning trade, having ended Tuesday largely unchanged.

“The Fed’s beef with the market in recent days and weeks has been that they don’t subscribe to the market’s view that it will be cutting rates in 2023,” said Ray Attrill, global head of FX strategy at National Australia Bank. The euro was steady at $1.0169 after squeezing out small gains overnight, and sterling was last fetching $1.2106.The currency has been a major beneficiary of the softer dollar and firmed to as much as 131.7 per dollar last week, but has since given back some of those gains.

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