The U.S. dollar traded higher against most major currencies on Wednesday, after the Federal Reserve released minutes from its June meeting.
The minutes released on Wednesday indicated that Fed officials believe the balance sheet can be reduced with limited disruption to financial markets. However, the minute did not give out a timetable.
Last month, the Fed raised the benchmark interest rates for the fourth time since December 2015 and unveiled a plan to trim its balance sheet later this year, sending a signal of confidence to the market.
The dollar index, which measures the greenback against six major peers, was up 0.14 percent at 96.348 in late trading.
In late New York trading, the euro fell to 1.1328 dollars from 1.1360 dollars, and the British pound dropped to 1.2916 U.S. dollars from 1.2939 U.S. dollars in the previous session. The Australian dollar edged down to 0.7588 U.S. dollar from 0.7654 U.S. dollar. The U.S. dollar bought 113.42 Japanese yen, higher than 113.39 yen of the previous session. The U.S. dollar rose to 0.9662 Swiss franc from 0.9639 Swiss franc, and it edged down to 1.2980 Canadian dollars from 1.3003 Canadian dollars.
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