The dollar fell while Treasuries advanced after minutes from the Federal Reserve’s latest meeting showed officials confident they can raise rates gradually amid little threat that near-term inflation will accelerate. The S&P 500 index slipped from an all-time highs after rising in nine of the past 10 days.
The dollar edged lower after the Fed minutes showed officials prepared to raise rates “fairly soon,” though confident they would not have to rush to tighten. The torrid gains in American equities stalled on a day with few earnings reports and data showing continued strength in the U.S. housing market. Europe’s currency rebounded, after briefly falling below $1.05 for the first time in more than six weeks, as French centrist Francois Bayrou bowed out of the presidential race and offered his support to independent candidate Emmanuel Macron. Oil fell from the highest price in more than a week.
