Forex

Dollar deepens losses ahead of Fed minutes

2021-10-13 18:39:25 GMT (Economies.com)

The US dollar fell against most of its peers on Wednesday, ahead of the Federal Reserve meeting minutes.

 

The Federal Reserve will release later the minutes of its last meeting, during which the central bank hinted the possibility of starting taper the bond-buying program soon.

 

Data showed today that the US consumer price index rose 0.4% during September, beating forecasts of 0.3%.

 

The core consumer price index reading (excluding energy and food prices) rose 0.2% last month as expected.

 

The US Congress decided recently to raise the debt ceiling and funding for federal agencies until early December.

 

The dollar index fell against a basket of major currencies by 0.5% to 94.07 points as of 17:51 GMT, after hitting a high of 94.5 points and a low of 94.05 points.

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