Fed minutes in view

Currency traders and investors are turning their focus back to the Federal Reserve this week, with the release of the minutes from the US central bank’s last policy meeting.

Thursday’s release is important as it will deliver detailed insight into how close the Fed is to raising rates.

After the bank left rates on hold at its much-hyped September meeting, several members of the policy-setting Federal Open Market Committee have said the decision was close and that most still expect the target federal funds rate to rise this year.

But worse-than-expected jobs data from the US on Friday has complicated matters.

US employers added just 142,000 jobs in September, which was well below predictions for more than 200,000.

Figures for August were also revised lower, casting doubt over the strength of the US economy and how well businesses and consumers could handle higher rates.

Meanwhile, the Bank of England is expected to leave interest rates on hold when it announces monetary policy on Thursday.