The dollar edged lower against the euro and yen Wednesday after minutes from the Federal Reserve’s January meeting suggested that the central bank will leave interest rates on hold at its March meeting.
The ICE U.S. dollar a measure of the buck’s strength against a basket of six rival currencies, was down 0.1% at 96.8270. The dollar weakened to ¥113.88, from ¥114.23 late Tuesday; the euro strengthened to $1.1148, compared with $1.1128.
The dollar edged lower after the release while U.S. stocks edged higher. The moves weren’t necessarily a reaction to the minutes, as Clemons noted that there was “a lot of noise in the market” on Wednesday.
In other currency trading, the dollar weakened against many resource-linked currencies–including the Canadian dollar Norwegian krone and Russian ruble as crude oil prices rebounded.
Meanwhile, the Mexican peso was on track for its largest daily gain against the dollar in years after a surprise interest-rate hike.
In the U.K., the pound weakened to $1.4263 Wednesday, from $1.4293 Tuesday, after a mixed batch of labor-market data.