Dollar Breaks Below 124 Yen After Fed Minutes Are Released Early

By Joseph AdinolfiMarketWatch Pulse

The dollar fell below 124 yen for the first time in a week Wednesday after minutes from the July meeting of Federal Reserve policy makers revealed that they might not be ready to raise interest rates. The minutes, which were published ahead of their scheduled 2 p.m. Eastern release time, showed policy makers were concerned that inflation remained stubbornly below target. Some also expressed concerns about the impact slowing growth in China might have on the U.S. The dollar recently traded at 123.90 yen from 124.30 shortly beforehand. The euro rose to $1.1111 from $1.1050. The pound rose to $1.5689 from $1.5660.

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