In minutes of June meeting released on Wednesday, the Federal Open Market Committee said "it currently anticipated that it likely would be appropriate to maintain the current target range for the federal funds rate for a considerable time after the asset purchase program ends, especially if projected inflation continued to run below the Committee's 2% longer-run goal, and provided that longer-term inflation expectations remained well anchored."
The Federal Reserve plans to completely unwind its asset purchase plan in October as long the economy continues to pick up. The FOMC has reduced bond purchases by
"Participants generally agreed that if incoming information continued to support its expectation of improvement in labor market conditions and a return of inflation toward its longer-run objective, it would be appropriate to complete asset purchases with a
The greenback that closed Wednesday's trading at 101.62 against the yen slipped to 101.49. If the greenback continues its descending trend, it may find support around the 100.8 zone.
The greenback hit a weekly low of 0.8903 against the franc, down from Wednesday's closing quote of 0.8908. On the downside, 0.885 is seen as next possible support level for the greenback-franc pair.
The greenback lost 0.06% to hit a weekly low of 1.3648 against the euro from yesterday's closing value of 1.3640. The greenback is likely to eye support around the 1.37 mark.
The greenback fell to a 3-day low of 1.7167 against the pound before rebounding slightly shortly thereafter. At Wednesday's close, the pair was worth 1.7154.
The US currency drifted lower to 0.8835 against the NZ dollar, its lowest since
The US weekly jobless claims for the week ended
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