The Federal Open Market Committee (FOMC) will release the Minutes of its May 6-7 meeting on Wednesday. Back then, policymakers decided to keep the Fed Funds Target Range (FFTR) unchanged at 4.25%-4.50%, as widely anticipated by market participants.
Euro (EUR) fell on softer than expected French CPI, signs of progress on EU-US trade talks and broad US Dollar (USD) short covering. Pair was last at 1.1321, OCBC's FX analysts Frances Cheung and Christopher Wong note.
The USD/CHF pair gains ground to near 0.8285 during the early European session on Wednesday. Better-than-expected US Consumer Confidence data and improved risk sentiment provide some support to the US Dollar (USD).