The dollar pared gains on Wednesday after the Fed's July meeting minutes showed central bank officials were concerned they could raise rates too far in their commitment to get inflation under control, which was interpreted as modestly dovish.The dollar pared gains on Wednesday after the Fed's July meeting minutes showed central bank officials were concerned they could raise rates too far in their commitment to get inflation under control, which was interpreted as modestly dovish.
St. Louis Fed President James Bullard said he is leaning toward supporting a third straight 75-basis-point interest rate hike in September. The dollar pared gains on Wednesday after the Fed’s July meeting minutes showed central bank officials were concerned they could raise rates too far in their commitment to get inflation under control, which was interpreted as modestly dovish.
“Except for the part about slower pace of rate hikes, the rest of the minutes read very hawkish,” Win Thin, global head of currency strategy at Brown Brothers Harriman, said in a report.The euro reached $1.0078, the weakest since July 18.