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Dovish minutes
The FOMC minutes of the June 16-17 meeting didn’t provide support to
US bulls as Federal Reserve officials remained cautiously optimistic about
the outlook of the world’s biggest economy. Most committee member
acknowledged that the economy didn’t gain momentum as certain
sectors of the economy are still struggling to show substantial signs of
improvement. More specifically, the committee emphasised that a strong
dollar and low crude oil prices weigh on both manufacturing and mining
sectors.

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