Just before I exit stage left we'll have a look at trading the minutes

Firstly, the minutes can often be a dud event so don't go looking for 100's of pips in any trade, unless we get a bombshell. In fact, we might be lucky to get 10's of pips.

Adam had the pre-minutes trade in his preview yesterday and I'm interested in picking a trade after the news hits.

For the most part it seems that the USD bulls are just starting to get hikeitus once more and it's a pattern we've seen time and time again, no matter how many times they've been burnt before.

I agree with Adam that the chances are that the minutes give nothing to bulls, and so we'll see a disappointment drop. How far that goes is anyone's guess but it's still only likely to put a small dent in Fed dollar bulls, and for me, grabbing that dip is the trade.

The 108.80 level looks most enticing to me, to take advantage of any dip but it might be a push to see it go past 109.00 unless we get some really dovish headlines. A long shot would be a fall down to 108.20/00 to jump on.

Good luck if you're trading it and don't go in too heavy in what might be a non-event.