The dollar drifted sideways on Wednesday, giving some relief to the yen and other major currencies after a sharp rally to a seven-week high last week, as...
TOKYO - The dollar drifted sideways on Wednesday, giving some relief to the yen and other major currencies after a sharp rally to a seven-week high last week, as investors paused to assess the interest rate path outlook for the United States.
On Wednesday, investors will get minutes of the Fed's September meeting, which will show discussions about what at the time had appeared to be a deteriorating labour market that ended with all but one policymaker agreeing to a 50-basis point cut. The dollar index, which measures the greenback against a basket of currencies, was flat at 102.490, not far from Friday's seven-week high of 102.69.
Investors remain focused on China after a volatile day in Chinese and Hong Kong markets in the previous session.
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