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Gold, EM currencies gain ground on FOMC minutes
•FOMC minutes overnight showed Fed inching towards its next rate hike •Markets concluded the Fed won't hike in March; that pushed USD down •Spot gold rose after the minutes the were released, on gradual hike expectations •The euro rallied on news about the French presidential campaign •Copper prices remained fairly firm on supply disruptions •Crude fell from a recent high, on US inventory concerns President Dennis Lockhart speaks on his 10 years at the Fed. 0200 – US: Dallas Fed President Robert Kaplan speaks in Fort Worth. 0630 – Australia: RBA governor Philip Lowe testifies to parliament committee ... (full story)