Oil and gold fight back against the dollar

[RTFX-Trading]

Dollar slips from its 6 months high against euro while investors are taking profit as prices of oil and commodity rebound. But the concerns on the slowing economic growth in the euro zone could still be a hurdle. EUR/USD climbed to 1.4768 early this morning from low of 1.4659 last week.

For those who follow the British pound, the focus this week is the minutes of BoE’s August 6-7 MPC meeting which is scheduled for August 20. According to some economists a split between the members to leave the borrowing cost at 5.0% is expected with one vote for a rate cut and one for a hike. The cable fell to 2 year low 1.8513 last week with the expectation of a rate cut after the BoE accented the poor economic outlook. It rebound this morning to 1.8723.