U.S. Dollar Loses Momentum amid Fed Beige Book Release

The U.S. dollar traded lower across the board on Wednesday after Federal Reserve officials painted a mostly uninspiring picture in their latest economic assessment, calling growth overall “slight” or “moderate” across most of the country.

Overall, the Fed’s 12 districts did report strength in real estate and housing. However, manufacturing in recent days has been “weak” and retail sales “mixed,” according to the latest Beige Book account.  The dollar index, which measures the greenback against a basket of six major currencies, was last down 0.36 percent at 98.38.

The euro was last up about 0.3 percent at $1.0678 against the greenback after hitting a session low of $1.05710. The dollar was last down 0.23 percent against the yen at 119.19 yen and about 0.80 percent lower against the Swiss franc at 0.9652.


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