Dollar Rises Against Euro, Yen After Fed Minutes

By Markets MarketWatch Pulse

The dollar strengthened Wednesday against its main rivals after minutes from the Federal Reserve's April meeting revealed that an interest-rate hike was still a possibility at its upcoming meeting in June. The euro fell to $1.1250 after the minutes, compared with $1.1289 shortly before their release. The dollar rose to 109.87 yen, from 109.60 beforehand. The pound dropped to $1.4589, from $1.4630. Policy makers said that whether they decide to raise rates will ultimately hinge on the quality of U.S. economic data in the second quarter. The minutes mirrored recent comments from Fed officials, including New York Fed President William Dudley, who said that a June hike remained a possibility.

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