Dollar drops to lowest level in seven weeks.


The dollar fell to the lowest level in seven weeks against a basket of major currencies on Thursday after meeting minutes showed the monetary policy Committee of the Federal Reserve (fed) for the month of July split policy makers on raising interest rates in the near term.

And shows the minutes of the meeting published on Wednesday that many of the monetary policy makers have said that any future slowdown in the pace of hiring will clash with any raising of interest rates in the near term, although the members of the open market Committee of the Federal Reserve expressed optimism in General towards the US Economic Outlook.

And disappointed hopes of meeting minutes from the US Central that bet will go to tighten monetary policy after the Federal Reserve Bank of New York President William Dudley said Tuesday that the Board might raise interest rates by September.

The dollar index hostel six key currencies basket to 94.385 points, its lowest level since 24 June. The last level of the index at 94.514 points and lost 1.1 percent since the beginning of this week with receding prospects for higher interest rates this year amid persistent inflationary pressures.

The euro climbed 0.3 percent against the dollar to $ 1.1320 after reaching the highest level in seven weeks at $ 1.13285.

The dollar lost 0.4 percent before the Japanese currency to be traded at a price of 99.85 Yen approached the lowest level in seven weeks, which stood at 99.55 yen on Tuesday.

And with the rise of the yen, a senior official warned on currency investors to push the yen up too quickly and said on Thursday that Japan would take appropriate action if excessive movements in the currency market.

Sterling climbed against the dollar to be traded at a price of $ 1.3065 focusing on retail sales data due to be published at 0830 GMT. The data is expected to show an increase of 0.2 percent in July after a sharp drop in June.