FX round-up: Cable steady after FOMC minutes, Fed's Bullard in no rush

The pound was little changed after having snapped back from recent weakness during the previous session, despite the release of a better-than-expected employment report for the three months to June.

Significantly, the indicators included in the report and referencing the month of July (after the Brexit vote) pointed to better underlying conditions than some had feared. The unemployment claim count in fact fell, defying the consensus forecast, and the number of vacancies did not shrink as much as some had been expecting.

Cable was but 0.06% lower at 1.3037, while euro/dollar edged higher by a similarly inconsequential 0.07% to 1.1287 and dollar/yen was down by 0.03% to 100.27.

Acting as a backdrop, the US dollar index was barely unmoved even after the release of the minutes of the US central bank's last policy meeting on 26-27 July.

As of 21:13 BST the US dollar index was off by just 0.01% to 94.777, as one might have expected.

Policy-makers at the US Federal Reserve were divided in July about what their next step should be, with some focusing on labour market gauges which were pointing towards so-called full-employment and others preferring to wait given what they said were benign inflation conditions, the minutes of their last rate-setting meeting showed.

To take note of, before the release of Wednesday's minutes St.Louis Fed chief James Bullard said his preference was for waiting for evidence of an economic rebound before deciding on anotehr interest rate hike.

"I think you would want to see at least modest rebound in growth or be confident that one was coming," Bullard said.

"I like to move on good news."