Dollar hovers near highest in a week after hawkish Fed minutes
dollar hovered near a one-week high on Thursday following its best day this month against its major peers after minutes of the last Federal Reserve meeting revealed a willingness to raise interest rates among some officials.
Sterling remained firm after jumping to a one-month peak following hotter-than-expected inflation, and also drew support from the announcement of a UK parliamentary election for July 4.
The yen languished just above a three-week low despite the continued threat of intervention by Japanese officials.
Ether continued to hover near Tuesday's more than two-month peak amid speculation over the potential approval of U.S. spot exchange-traded funds that would track the world's second-biggest cryptocurrency.
The dollar index, which tracks the currency against six major rivals including the euro, sterling and yen, was little changed at 104.89 after gaining 0.28% overnight.
Fed officials at their April 30-May 1 session indicated they still had faith that price pressures would ease, if only slowly, but the meeting summary also reflected discussion of possible tightening.
«The minutes revealed concerns that inflation might not decline as quickly as hoped and that some members are open to further rate hikes if needed,» supporting the dollar, James Kniveton, senior corporate FX dealer at Convera, wrote in a note to clients.
«Consequently, expectations for the first rate reduction have shifted from September to November. With the Federal Reserve meeting occurring just after the U.S. elections, early
