The U.S. dollar got off to a flying start in Asia on Thursday hitting its highest in nearly a week against a basket of major currencies after the euro was downed by talk of more European Central Bank policy easing.
Also helping to underpin the dollar, minutes from the Federal Reserve’s Oct. 29-30 policy meeting showed officials felt they might be able to start scaling back the bank’s massive asset-purchase program at one of its next few meetings.
“While this is a re-iteration of the Fed’s data dependency bias, the overall tone of the minutes is somewhat more hawkish than anticipated, suggesting the Fed can react quickly to any improvement in the data flow,” BNP Paribas analysts wrote in a note to clients.
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