US dollar falls as traders await Fed minutes for rate-rise signals

by |

(Bloomberg) -- The US dollar slipped against most major currencies as traders pared bets before the Federal Reserve publishes minutes from its most recent policy meeting.

The U.S. currency slid before the Fed report, which follows the Bank of England’s decision to kept its benchmark rate at a record-low 0.5 percent. The European Central Bank’s account of policy makers’ thinking showed they opted to take more time to analyze recent threats to the economy before drawing conclusions.

“Given some of the volatility we’ve seen in August and September and some of the frustration on the Fed, people are more inclined to be on the sidelines,” said Mazen Issa, senior foreign-exchange strategist at Toronto Dominion Bank in New York. “We’re more neutral on the dollar” versus Group-of-10 currencies, he said.

The dollar fell 0.1 percent to $1.1250 per euro and declined 0.1 percent to 119.94 yen as of 10:08 a.m. in New York.

The greenback fell 1.5 percent in the past week, making it the second worst performer after the yen among 10 developed-nation currencies, according to Bloomberg Correlation-Weighted Indexes.

This morning the Australian dollar is currently worh US$0.72569.