Dollar up ahead of Fed minutes
February 21, 2006
The US dollar was up on Tuesday in early-day trade in Europe as traders awaited the release of the minutes from the most recent meeting of the US Federal Reserve. The minutes from the January 31 meeting, Alan Greenspan’s last as Fed chairman, are expected to support at least two or three more interest rate hikes. Some analysts, however, warned that the advances in anticipation of the minutes could lead to declines once the minutes actually are released.
At any rate, the greenback was up to $1.1906 in relation to the euro and to ¥118.86 against the Japanese yen. The dollar was nearly unchanged in relation to sterling, trading at $1.7443.