The dollar was hovering at a fresh one-month low against other major currencies in quiet trade on Friday, as the minutes of the Federal Reserve’s latest policy meeting continued to dampen demand for the greenback.
Trade volumes were expected to remain thin with U.S. markets open for only half a day on Friday after the Thanksgiving holiday on Thursday.
The greenback came under broad selling pressure after the minutes of the Fed’s most recent meeting showed that some policymakers remain concerned over persistently low inflation.
The report also showed that the Fed expects to raise interest rates in the “near term”, adding to expectations for a December rate hike.
However, the central bank added that economic data will determine the timing of future rate hikes, which could mean a slower pace than expected for 2018.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was little changed at 92.99 by 05:15 a.m. ET (09:15 GMT), the lowest since October 19.
EUR/USD added 0.17% to 1.1870, while GBP/USD edged up 0.14% to trade at 1.3327.
German research institute Ifo earlier reported that its Business Climate Index rose to 117.5this month from a reading of 116.7 in October, beating forecasts for a drop to 116.6.
Elsewhere, the yen was lower with USD/JPY up 0.20% at 111.44, while USD/CHF eased 0.08% to 0.9811.
The Australian and New Zealand dollars were weaker, with AUD/USD down 0.21% at 0.7609 and with NZD/USD shedding 0.30% to 0.6868.
Meanwhile, the Canadian dollar was higher, with USD/CAD up 0.23% at 1.2743.
