The dollar was on
the defensive on Thursday, with investors low on incentives to buy the
greenback after the Federal Reserve dialled down some expectations that
it would hike interest rates soon, while the euro began to climb back
towards a 6-1/2-month high.
Fed
policymakers agreed they should hold off on raising interest rates
until they see evidence that a recent economic slowdown was transitory,
the minutes from their last policy meeting showed on Wednesday.
The minutes were seen to indicate heightened Fed caution towards interest rate hikes and took the wind out of an earlier bounce by the dollar, which had been plagued recently by U.S. political concerns centred on President Donald Trump.
The dollar rose 0.3 percent to 111.830 yen, pushed away from Tuesday's one-week high of 112.130 yen. The dollar index against a basket of major currencies. was down 0.3 percent at 96.972.
The euro, which went as low as $1.1168 overnight, was 0.2 percent higher at $1.1240, making its way back towards the 6-1/2-month peak of $1.1268 touched on Tuesday.
The common currency has enjoyed a bull run this month on factors including an ebb in French political concerns and upbeat euro zone data.
The minutes were seen to indicate heightened Fed caution towards interest rate hikes and took the wind out of an earlier bounce by the dollar, which had been plagued recently by U.S. political concerns centred on President Donald Trump.
The dollar rose 0.3 percent to 111.830 yen, pushed away from Tuesday's one-week high of 112.130 yen. The dollar index against a basket of major currencies. was down 0.3 percent at 96.972.
The euro, which went as low as $1.1168 overnight, was 0.2 percent higher at $1.1240, making its way back towards the 6-1/2-month peak of $1.1268 touched on Tuesday.
The common currency has enjoyed a bull run this month on factors including an ebb in French political concerns and upbeat euro zone data.
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