Dollar Falls Most in One Month as Fed Signals Shallow Rate Path
- Central bank meeting minutes show December liftoff possible
- Yen advances after BOJ leaves policy unchanged at meeting
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The dollar fell the most in more than one month as Federal Reserve policy makers signaled the pace of interest-rate increases would be gradual.
The greenback depreciated after minutes Wednesday from the Federal Open Market Committee’s October meeting stated that December liftoff “may well become appropriate” while signaling a shallow path for any increases next year. The euro rebounded from a seven-month low and the yen extended gains after the Bank of Japan refrained from expanding stimulus.