The dollar stayed pinned near 6-1/2-month lows on Wednesday, investors' focus shifting from U.S. politics to monetary policy after comments from a Federal Reserve official rekindled expectations of an interest rate hike next month. That could temper expectations from the Fed for a June hike, although the Fed noted in its last statement that the weakness from data would be "transitory". The euro was up less than 0.1 percent at $1.1192, having scaled a 6-1/2-month high of $1.1268 on Tuesday. "People may have the view that the minutes also can be tilted towards the hawkish side. (This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
according to REUTERS/Kai Pfaffenbach/IllustrationLONDON The dollar stayed pinned near 6-1/2-month lows on Wednesday, investors' focus shifting from U.S. politics to monetary policy after comments from a Federal Reserve official rekindled expectations of an interest rate hike next month. U.S. dollar and Euro bank notes are photographed in Frankfurt, Germany, in this illustration picture taken May 7, 2017. That could temper expectations from the Fed for a June hike, although the Fed noted in its last statement that the weakness from data would be "transitory". The euro was up less than 0.1 percent at $1.1192 EUR=EBS, having scaled a 6-1/2-month high of $1.1268 on Tuesday. The Australian dollar, sometimes used as a proxy of China-related trades, eased slightly but reaction to the downgrade was also relatively subdued.
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FOREX-Dollar holds above 6-1/2 month lows, Fed minutes in focus
* Dollar index pulls away from 6-1/2 month lows* Rise in U.S. Treasury yields supports the dollar* Focus turns to Fed minutes* Graphic: World FX rates in 2017 tmsnrt.rs/2egbfVhBy Ritvik CarvalhoLONDON, May 24 The dollar on Wednesday held above 6-1/2-month lows hit in previous days, as comments from a senior Federal Reserve official rekindled expectations of possible U.S. interest rate rises. The dollar was 0.1 percent higher at 111.85 yen after a bounce to 112.050 yen, its highest in a week. Elsewhere, the Canadian dollar stood steady at C$1.3518 per dollar after touching C$1.3457 overnight, its strongest in a month. That, along with a recent sub-par U.S. data has weighed on the dollar in past weeks. The focus is now on the OPEC meeting in Vienna on Thursday to see whether a deal to prolong output cuts can be struck.
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