Online Desk
The dollar pulled back in Asian trading on Thursday as investors took
profits following its rise to seven-month highs, as Federal Reserve
officials' comments as well as minutes from the central bank's latest
meeting hinted that an interest rate hike could be right around the
corner, reports Reuters.
The dollar modestly extended its losses against its Japanese
counterpart after the Bank of Japan kept monetary policy steady as
widely expected, despite the country's recent slip into a technical
recession.
The dollar index .DXY =USD was down about 0.4 percent at 99.217. It hit
a high of 99.853 overnight, closing in on its 12-year peak of 100.39
set in March.
"I don't think there's any fundamental shift here, just a bit of
profit-taking after the minutes, and I don't see any change to the
dollar's trajectory," said Mitul Kotecha, head of Asian FX and rates
strategy at Barclays in Singapore.
