The US Dollar made solid gains as global stock indices fell and US Treasury yields rose following the Federal Reserve policy meeting minutes release on Wednesday evening. Policymakers gave their first indication that the central bank had tapering in mind. If the recovery stays strong, “it might be appropriate” to start considering a tapering plan, some officials said. Aggressive selling of crypto currencies after Chinese authorities announced sever restrictions of its use, also increased US Dollar demand during the day (for safe-haven purposes).

Sterling’s sell off yesterday extended from this year’s highs above $1.4200 due to the broad-based USD rally in tandem with the U.S. Federal Reserve minutes release. Against the Euro, 1.1600 is likely to remain pivotal following last weeks rally.

Likewise, the Euro intra-day selloff from Wednesday’s high of $1.2238 was mainly due to the broad-based Dollar’s rally in tandem with the rise in U.S. Treasury yields/Fed minutes.

Opening interbank levels:
GBP/USD 1.4112
GBP/EUR 1.1585
EUR/USD 1.2180