Dollar Down, But Fed Minute’s Hawkish Tone Caps Losses By Investing.com

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By Gina Lee

Investing.com – The dollar was down on Thursday morning in Asia, but trading near a five-year high against the yen. The U.S. Federal Reserve’s in the contrasted with the dovish approach taken by its Japanese counterpart.

The that tracks the greenback against a basket of other currencies edged down 0.14% to 96.737 by 11:13 PM ET (4:13 AM GMT). However, the index remained close to Wednesday’s high of 96.938, its strongest level since July 2020.

The pair inched down 0.04% to 115.36, a level not hit since January 2017.

The pair edged up 0.12% to 0.7204 and the pair inched up 0.04% to 0.6876.

The pair inched down 0.05% to 6.3885 and the pair edged up 0.16% to 1.3887.

The Fed indicated that it could pick up the pace on its asset tapering program, and hike interest rates quicker than expected if high inflation persists, in its minutes released on Wednesday.

San Francisco Fed President Mary Daly also said on Wednesday…

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