The dollar index fell yesterday as investors shied away from betting on the currency after Federal Reserve meeting minutes indicated that policymakers were in no hurry to raise interest rates.
Traders put the likelihood of a September increase at about 40 percent, down from 50 percent at the end of July, a shift expected to weigh on the dollar in the near term.
The dollar index fell 0.2 percent to 96.195, while the euro rose 0.5 percent to $1.1178. The dollar also declined 0.3 percent against the Swiss franc to 0.96255, although it edged up against the Japanese yen.
The minutes said officials had agreed the previous month that the economy was approaching the point at which rates should rise. Some, however, worried that declining inflation and a weak global economy presented risks too significant to justify an increase.
Norwegian Krone
The Norwegian krone fell to its lowest level against the euro in more than seven months during European trading after Norway’s economy slowed in the second quarter, leaving room for further monetary easing. The krone had lost 10 percent against the euro over the previous three months as crude prices fell, investment declined, and unemployment increased.
The euro rose 0.4 percent to 9.2734 kroner, its highest level since January 1.
Gold
Gold rose to its highest level in about five weeks after the Federal Reserve minutes were released.
Spot gold reached $1,141.75 an ounce, its highest level since July 17. US December gold rose about 1 percent to $1,138.20 after earlier reaching $1,141.80.
Spot platinum reached a five-week high of $1,025.20 before trading at $1,016.50, up 0.5 percent.
Palladium gained 0.7 percent to $614.78, while silver rose 0.6 percent to $15.38.