U.S. dollar climbs amid Fed minutes
Written by tokyoclub on May 20, 2021
NEW YORK, May 19 (Xinhua) — The U.S. dollar appreciated in late trading on Wednesday as market participants digested minutes from the Federal Reserve’s most recent policy meeting.
The dollar index, which measures the greenback against six major peers, increased 0.55 percent at 90.2418.
In late New York trading, the euro was down to 1.2167 U.S. dollars from 1.2228 dollars in the previous session, and the British pound was down to 1.4104 dollars from 1.4190 U.S. dollars in the previous session. The Australian dollar fell to 0.7712 U.S. dollar from 0.7801 dollar.
The U.S. dollar bought 109.23 Japanese yen, higher than 108.86 Japanese yen of the previous session. The U.S. dollar was up to 0.9042 Swiss franc from 0.8964 Swiss franc, and it increased to 1.2136 Canadian dollars from 1.2058 Canadian dollars.
Some U.S. Federal Reserve officials signaled that they would be open to start discussing tapering the central bank’s asset purchase program at upcoming meetings, according to the minutes of the Fed’s recent policy meeting released Wednesday.
“A number of participants suggested that if the economy continued to make rapid progress toward the Committee’s goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases,” the Fed said in the minutes of its April 27-28 meeting, referring to the Fed’s policy-making committee.
The Fed has pledged to keep its benchmark interest rates unchanged at the record-low level of near zero, while continuing its asset purchase program at least at the current pace of 120 billion U.S. dollars per month until the economic recovery makes “substantial further progress.”