Dollar gives up Fed gains; yen and pound strengthen

Published by
Reuters UK

By Samuel Indyk LONDON (Reuters) – The dollar turned lower on Thursday as investors looked ahead to pivotal U.S. labour market data following minutes from the Federal Reserve’s June meeting, while a broad risk-off mood lent support to the Japanese yen. Minutes from the Fed’s meeting released on Wednesday showed that the vast majority of policymakers expect further tightening in U.S. monetary policy, even as they agreed to hold interest rates steady last month. That sent the dollar slightly higher alongside Treasury yields, while stocks fell, as expectations grew that the Fed will resume its ra…

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