U.S. Dollar Lower After Fed Minutes

The dollar started at one-week lows against a basket of major currencies on Thursday, coming under some pressure after minutes of the Federal Reserve’s June meeting gave no clear indication on when interest rates will rise.

The minutes confirmed that the Fed’s monthly bond purchases would end in October and that policymakers debated about the complexities of unwinding a stimulus program that had flooded the financial system with over $2 trillion.

Wall Street bounced back from a two-day selloff in the absence of any guidance on whether rates will be raised by mid-2015 as speculated, Treasury yields rose while the dollar was sold down.


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