Dollar weakens against euro, yen after Fed minutes

The dollar edged lower against the euro and yen Wednesday after minutes from the Federal Reserve’s January meeting suggested that the central bank will leave interest rates on hold at its March meeting.

The ICE U.S. dollar DXY, -0.10% a measure of the buck’s strength against a basket of six rival currencies, was down 0.1% at 96.8270. The dollar USDJPY, -0.13%  weakened to ¥113.88, from ¥114.23 late Tuesday; the euro EURUSD, +0.1078%  strengthened to $1.1148, compared with $1.1128.

The minutes showed that several members of the central bank’s rate-setting committee want to see “direct evidence” that inflation was rising toward 2% before they would back another rate hike.

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