FOREX-Dollar higher ahead of Fed minutes, Swedish crown slides

Wed Jan 8, 2014 8:25am EST
 
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* U.S. dollar helped by trade data

* Canadian dollar at lowest in almost 4 years

* Focus on U.S. jobs data on Friday

By Patrick Graham

LONDON, Jan 8 (Reuters) - The dollar consolidated gains against the yen on Wednesday after a boost from upbeat trade data a day earlier which triggered renewed appetite for riskier assets among global investors.

Action in European trade centred around the Swedish crown, hurt by minutes from the central bank's last meeting that were read as leaving room for more cuts in interest rates.

The Canadian dollar also weakened. Hedge funds have been betting against it and despite regaining a foothold as North American investors began to come online it was still down almost half a percent on the day, 1.5 percent since late last week.

Dealers said trade was slowing somewhat ahead of the publishing of minutes from the last meeting of the U.S. Federal Reserve later on Wednesday, keenly eyed for more signs of how long the central bank will keep interest rates at record lows.   Continued...