The US Dollar is strengthening across the board ahead of the FOMC minutes, due out in 2 hours from now. This situation has forced the EUR/USD below the 1.18 price mark, hitting 3-month lows. The FOMC had released a hawkish statement from the 16 June meeting. The market is waiting to see the context in which that statement was put out, judging from the responses of several board members who attempted to downplay the hawkish comments after that. The FOMC statement of 16 June caused the US Dollar to soar broadly, and perhaps the market expects the FOMC minutes to mirror this statement, driving demand for the greenback. ... (full story)