U.S. Dollar Falls after Lack of Fed Guidance

The dollar fell the most in more than a week as minutes from the Federal Reserve’s last meeting failed to provide additional insight on the pace of interest-rate increases next year.

The euro gained for a third day versus the U.S. currency as it approached a key technical level. The yuan rose to the strongest in three months on the first of two days of China-U.S. talks and before a report economists said will show the Chinese trade surplus rose in June. New Zealand’s dollar approached a record high, while the Swedish krona rallied the most in almost four weeks.

“There’s no surprises in the minutes — you usually get a broader, less dovish flavor in the minutes,” said Vassili Serebriakov, a New York-based foreign-exchange strategist at BNP Paribas SA. “But nothing deviated significantly from the dovish Yellen at the press conference. The market is a bit disappointed.”

Bloomberg

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