WASHINGTON (dpa-AFX) - The U.S. dollar swung between gains and losses on Wednesday with investors focusing on the minutes from the Federal Reserve's most recent monetary policy meeting.
The minutes revealed most officials remain wary of cutting interest rates 'too quickly.'
The minutes of the late-January meeting said participants acknowledged risks to achieving the Fed's employment and inflation goals were moving into better balance, but they remained highly attentive to inflation risks.
'In particular, they saw upside risks to inflation as having diminished but noted that inflation was still above the Committee's longer-run goal,' the Fed said.
The dollar index, which climbed to 104.21 in the European session, retreated and struggled to find support, and was last seen at 104.00, down 0.07% from the previous close.
Against the Euro, the dollar weakened to 1.0819 from 1.0810. Against Pound Sterling, the dollar eased to 1.2637. The dollar firmed against the Japanese currency, fetching 150.29 yen a unit.
The Aussie was little changed against the dollar at US$ 0.6551, while the Swiss franc strengthened to CHF 0.8796 a dollar. The Loonie firmed to 1.3505 against the greenback, supported by higher oil prices.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
