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The dollar hit a two-week low versus a basket of currencies on Thursday after minutes from the US Federal Reserve’s latest meeting suggested some central bankers are still concerned about inflation.
The dollar index, which measures the greenback’s value against a basket of six major currencies, touched 92.827, its lowest level since Sept. 26. It was last down 0.2 per cent at 92.854, reports Reuters.
The dollar slipped 0.1 per cent against the yen to 112.38 yen, but remained above Wednesday’s intraday low of 112.08 yen.
The dollar will probably find some support around 111.80 yen, near the 200-day moving average, said Masashi Murata, currency strategist for Brown Brothers Harriman in Tokyo.
The yen is a low-yielding currency that is often used to fund investments in higher-yielding currencies and assets, especially when the economic outlook is benign and market volatility is subdued.
The euro touched its highest in more than two weeks at $1.1878, and was last up 0.1 per cent on the day at $1.1874. The euro has risen this week.