Dollar Wavers Around 2-Week Lows Ahead of Fed Minutes

Dollar Wavers Around 2-Week Lows Ahead of Fed Minutes

The dollar stood around two-week troughs on worries U.S. President Donald Trump's tax plan might stall. Trump's war of words with Senator Bob Corker raised concerns about the administration's ability to pass pledged reforms.

The dollar index was steady at 93.314 against a basket of currencies, around its weakest level since Sept. 29.

The greenback was under pressure amid uncertainty over the next Federal Reserve Chairman, with the predictions market site, PredictIt, favoring Fed governor Jerome Powell as the most likely candidate.

Although Powell is considered as more hawkish than Janet Yellen, analysts says he might be less aggressive in winding back stimulus than Kevin Warsh, another potential candidate for the position.

Dallas Federal Reserve Bank President Robert Kaplan recently said that he wants to see more signs of upward inflation before hiking interest rates again.

The euro was steady around $1.1818, not far from Tuesday's peak of $1.1825, after Catalonian President Carles Puigdemont suspended plans to leave Spain and called for talks with Madrid to discuss the region's future.


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