U.S. Dollar Benefits from FOMC Minutes

The U.S. dollar traded at 11-month highs against a basket of major currencies early on Thursday, having been given a second wind after minutes of the Federal Reserve’s July meeting sounded slightly hawkish.

The dollar index, still basking in the afterglow of Tuesday’s upbeat U.S. housing data, climbed as far as 82.277, reaching a high not seen since early September. It has broken clear of the 81.188/81.716 range held for much of this month.

The minutes showed policymakers debated on whether interest rates should be raised earlier given a surprisingly strong jobs market recovery. Most officials, however, wanted further evidence before changing their view on when rates should be lifted.

CNBC

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