Investing.com – The U.S. dollar was mixed against its major counterparts on Wednesday, ahead of the release of a flurry of U.S. economic data as the Federal Reserve prepared to publish the minutes of its most recent policy setting meeting.
During European afternoon trade, the greenback was down against the euro, with EUR/USD climbing 0.18% to hit 1.351.
But the greenback was up against the pound, with GBP/USD shedding 0.44% to hit 1.6053.
In its February inflation report, the Bank of England raised its forecasts for inflation for 2011 but said economic growth would be slower, weighed by higher commodity prices and government budget cuts.
Elsewhere, the greenback was down against the yen but up against the Swiss franc, with USD/JPY dipping 0.03% to hit 83.73 and USD/CHF easing up 0.09% to hit 0.9679.
Earlier in the day, the head of the Swiss National Bank, Philipp Hildebrand, said that the bank would have to normalize interest rates if its latest inflation forecast materialized.
Meanwhile, the greenback was down against its Canadian, Australian and New Zealand counterparts, with USD/CAD shedding 0.26% to hit 0.987, AUD/USD rising 0.29% to hit 0.9993 and NZD/USD climbing 0.14% to hit 0.7528.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.1%.
Later Wednesday, the U.S. was to publish official data on producer price inflation, as well as reports on building permits, housing starts and industrial production.
During European afternoon trade, the greenback was down against the euro, with EUR/USD climbing 0.18% to hit 1.351.
But the greenback was up against the pound, with GBP/USD shedding 0.44% to hit 1.6053.
In its February inflation report, the Bank of England raised its forecasts for inflation for 2011 but said economic growth would be slower, weighed by higher commodity prices and government budget cuts.
Elsewhere, the greenback was down against the yen but up against the Swiss franc, with USD/JPY dipping 0.03% to hit 83.73 and USD/CHF easing up 0.09% to hit 0.9679.
Earlier in the day, the head of the Swiss National Bank, Philipp Hildebrand, said that the bank would have to normalize interest rates if its latest inflation forecast materialized.
Meanwhile, the greenback was down against its Canadian, Australian and New Zealand counterparts, with USD/CAD shedding 0.26% to hit 0.987, AUD/USD rising 0.29% to hit 0.9993 and NZD/USD climbing 0.14% to hit 0.7528.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.1%.
Later Wednesday, the U.S. was to publish official data on producer price inflation, as well as reports on building permits, housing starts and industrial production.