US dollar weakens as Federal Reserve minutes leave markets guessing

[NEW YORK] The US dollar fell slightly against the euro and the yen on Wednesday as meeting minutes from the US Federal Reserve's July meeting did little to elucidate the future of US monetary policy.

Toward 2100 GMT on Wednesday, the euro was at US$1.1287, up from US$1.1276 the day before, while the dollar had slightly weakened to 100.28 yen, down from 100.30.

The pound fell slightly against the dollar to US$1.3038, down from US$1.3044.

An account of deliberations from last month showed Federal Reserve policy makers were keeping their "options open" but remained divided on the threat of inflation.

Joe Manimbo, a currency market analyst at Western Union, said the Fed minutes had "left much to the imagination." "The minutes from bankers' late July meeting offered a mix of hawkish and dovish signals which largely offset, keeping the bar elevated to an imminent rate hike," Mr Manimbo wrote in a note to clients.

AFP