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Dollar hits fresh 3-month low after Fed's dovish meeting minutes


Thursday, 10 January 2019 03:16 WIB

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The U.S. dollar carved out a three-month low, deepening its losses during Wednesday's trading session after the Federal Reserve’s December meeting minutes showed a dovish tilt in the central bank.

While multiple comments from officials, as well as a lowered expectations of rate increases in 2019 from three to two already pointed to a change of sentiment at the Fed, the minutes hammered that point home on Wednesday. Some central bank officials had been in favor of pausing the rate increases in December already, and many agreed that the Fed could be patient with their hikes going forward.

The ICE U.S. Dollar Index  in response slipped to its session low, which marked a fresh three-month nadir. The gauge was last down 0.7% at 95.200, according to FactSet data. The rose to its best level since October at $1.1546, versus $1.1442 late Tuesday. Similarly, the British pound climbed higher to $1.2796 from $1.2716, its highest since late November.

Source : Marketwatch


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