US dollar declines amid Fed minutes

New York: US dollar declined on Wednesday as investors digested the newly-released minutes by the Federal Reserve.

The US central bank on Wednesday released the minutes of its latest monetary policy meeting, saying members “observed that a patient approach to determining future adjustments to the target range for the federal funds rate would likely remain appropriate for some time.”

The dollar index, which measures the greenback against six major peers, was down 0.02 per cent at 98.0403 in late trading, the Xinhua news agency reported.

In late New York trading, the Euro was up to 1.1159 dollars from 1.1157 dollars in the previous session, and the British pound decreased to 1.2668 dollars from 1.2705 US dollars in the previous session. The Australian dollar rose to 0.6884 dollar from 0.6881 dollar.

The US dollar bought 110.28 Japanese Yen, lower than 110.62 Japanese Yen of the previous session. The US dollar decreased to 1.0086 Swiss francs from 1.0113 Swiss francs, and it was up to 1.3427 Canadian dollars from 1.3404 Canadian dollars.

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