The US economic calendar has passed through another morning session without the complications of a top market-moving economic indicator to disrupt price action.
The minutes of last month's BOE Monetary Policy Committee meeting revealed a far closer vote to raise rates than the market anticipated, indicating that the UK Central Bank maintains its hawkish bias even in the face of cooler inflation gauges and slowing consumer demand.
The US dollar softened throughout the New York session as mixed reports from the housing sector reaffirmed much of the dour sentiment on everything from construction to subprime loans.
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