The U.S. dollar fell on Wednesday, pulling back from a 14-year high following the release of commentary from the Federal Reserve.
While the dollar had already been weaker against its major rivals, it extended its decline following the release of minutes from the Fed’s December meeting, with a key currency index dropping to its lows of the session.
The minutes showed some conflict over the central bank’s pace of raising interest rates at the meeting, when the Fed raised interest rates for only the second time in the past decade. The Fed has said the pace of hikes would be “gradual,” though the minutes indicated that many Fed officials thought a measured pace of increases was under threat. The officials “pointed to a number of risks that, if realized, might call for a different path of policy than the currently expected,” the minutes read…
Read more : MarketWatch, 04.01.2017