Investing.com – The U.S. dollar was down against most of the other major currencies on Wednesday, after minutes of the last meeting of Federal Reserve policy makers revealed that the bankers believed new measures to stimulate growth would be needed.
During European afternoon trade, the greenback was down against the euro, with EUR/USD advancing 0.28% to hit 1.3965 after official data showed that industrial production in the euro zone rose more-than-expected in August.
The greenback was also down against the pound and the Swiss franc, with GBP/USD up 0.25% to hit 1.5849 and USD/CHF shedding 0.07% to hit 0.9561.
Earlier in the day, official data showed that number of people claiming unemployment benefits in the U.K. rose more-than-expected in September, up for a second consecutive month, while the unemployment rate unexpectedly declined.
In addition, the greenback was down against its Canadian, Australian and New Zealand counterparts, with USD/CAD tumbling 0.67% to hit 1.0034, AUD/USD gaining 0.18% to hit 0.9782 and NZD/USD up 0.39% to hit 0.7580.
But the greenback was up against the yen, with USD/JPY rising 0.14% to hit 81.83. Earlier Wednesday, the Governor of the Bank of Japan said that the yen’s strength hurts companies’ profits and confidence, adding that the bank will keep monitoring the currency market “with great interest”.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.25%.
On Tuesday, the minutes of the September 21 meeting of Federal Open Market Committee showed that "many participants" believed "it would be appropriate to provide additional monetary policy accommodation" if unemployment remained too high or inflation too low.
During European afternoon trade, the greenback was down against the euro, with EUR/USD advancing 0.28% to hit 1.3965 after official data showed that industrial production in the euro zone rose more-than-expected in August.
The greenback was also down against the pound and the Swiss franc, with GBP/USD up 0.25% to hit 1.5849 and USD/CHF shedding 0.07% to hit 0.9561.
Earlier in the day, official data showed that number of people claiming unemployment benefits in the U.K. rose more-than-expected in September, up for a second consecutive month, while the unemployment rate unexpectedly declined.
In addition, the greenback was down against its Canadian, Australian and New Zealand counterparts, with USD/CAD tumbling 0.67% to hit 1.0034, AUD/USD gaining 0.18% to hit 0.9782 and NZD/USD up 0.39% to hit 0.7580.
But the greenback was up against the yen, with USD/JPY rising 0.14% to hit 81.83. Earlier Wednesday, the Governor of the Bank of Japan said that the yen’s strength hurts companies’ profits and confidence, adding that the bank will keep monitoring the currency market “with great interest”.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.25%.
On Tuesday, the minutes of the September 21 meeting of Federal Open Market Committee showed that "many participants" believed "it would be appropriate to provide additional monetary policy accommodation" if unemployment remained too high or inflation too low.