The euro was seen on a pleasant note and the US dollar fell against the yen when the Federal Reserve’s minutes of its last meeting showed policy makers were concerned the US recovery may be slowing. The US dollar was under pressure when data showed US retail sales declined for a second straight month. Pound rose when better-than-expected UK employment data added to speculation the Bank of England may have to start thinking about raising interest rates.
Samarjit Shankar, managing director of global foreign exchange strategy at BNY Mellon in Boston said: “The main point is that there is divided opinion within the Fed about how aggressively they should act as the economy slows further. (The Fed) will not be averse to keeping interest rates low for an extended period,” which would hurt the dollar."
The US dollar slid 0.5 percent to 88.27 yen. Meanwhile, the European currency hit $1.2778. Pound rose 0.5 percent to $1.5256.