Xinhua
24 Nov 2022, 02:48 GMT+10
NEW YORK, Nov. 23 (Xinhua) -- The U.S. dollar fell sharply in late trading on Wednesday as the Federal Reserve's November meeting minutes showed most officials favored slower tightening pace soon.
While noting that inflation had still not shown significant signs of abating, "a substantial majority of participants judged that a slowing in the pace of increase would likely soon be appropriate," said the minutes released Wednesday.
"A slower pace in these circumstances would better allow the Committee to assess progress toward its goals of maximum employment and price stability," the minutes added.
Earlier this month, the U.S. central bank raised interest rates by 75 basis points for the fourth consecutive meeting in an aggressive bid to tame inflation.
The dollar index, which measures the greenback against six major peers, decreased 1.07 percent to 106.0760 in late New York trading on Wednesday.
The euro rose to 1.0403 U.S. dollars from 1.0299 dollars in the previous session, and the British pound increased to 1.2065 U.S. dollars from 1.1884 dollars in the previous session.
The U.S. dollar bought 139.45 Japanese yen, lower than 141.21 Japanese yen of the previous session. The U.S. dollar was down to 0.9419 Swiss francs from 0.9523 Swiss francs, and it fell to 1.3360 Canadian dollars from 1.3383 Canadian dollars. The U.S. dollar fell to 10.4586 Swedish Kronor from 10.6440 Swedish Kronor.
Get a daily dose of New York Statesman news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to New York Statesman.
More InformationNEW YORK CITY, New York: Bitcoin surged to a new all-time high this week, buoyed by growing institutional interest and a wave of pro-crypto...
SHENZHEN, China: As global chip competition intensifies, Huawei Technologies is exploring new markets in the Middle East and Southeast...
LONDON/NEW YORK CITY: American grocery bills may be headed higher as coffee and orange juice prices face upward pressure from new tariffs...
BATTLE CREEK, Michigan: In a major consolidation of iconic food brands, WK Kellogg has agreed to be acquired by the owner of Ferrero...
WASHINGTON, D.C.: Filmmaker Peter Jackson's lifelong fascination with the extinct giant New Zealand flightless bird called the moa...
NEW DELHI, India: India has submitted a revised proposal to the World Trade Organization (WTO) in Geneva to implement retaliatory tariffs...
BRUSSELS, Belgium: Meta is holding firm on its controversial pay-or-consent model, a move that could lead to fresh antitrust charges...
LONDON, U.K.: American consumers and businesses could soon face the highest overall tariff burden in more than a century, according...
The family of Sayfollah Saif Musallet, a 20-year-old American citizen who was beaten to death by Israeli settlers in the occupied West...
CONCORD, New Hampshire: A federal judge in New Hampshire issued a crucial ruling on July 10 against President Donald Trump's executive...
DUBAI, U.A.E.: A cargo ship flagged under Liberia, known as the Eternity C, sank in the Red Sea following an attack executed by Yemen's...
WASHINGTON, D.C.: The Trump administration has started sending some weapons to Ukraine again, just a week after the Pentagon told officials...