Global Forex Market

THE minutes from the Federal Reserve didn’t do much favour for US dollar but it also didn’t serve as fresh catalyst to sell the buck as well.

The minutes showed that the Fed voting members are largely divided in the most recent meeting. Several Fed officials, saying they backed a cautious approach to raising interest rates, “noted their concern that raising the target range as soon as April would signal a sense of urgency they did not think appropriate,” the minutes said. At the same time, some other Fed officials spoke in favour of an April rate hike. Fed officials were also concerned about the fragile state of the financial markets and the global economy, the minutes added.