The dollar experienced similar behavior against the GBP and closed at 1.6015.
Over the past month, the dollar had risen on expectations an improving economy would prompt the Fed to hike interest rates sooner rather than later. Analysts said the minutes are likely to dampen speculation the central bank would tighten any time soon. In addition, the fall in the Dollar that has been treated as a lower risk, safe-haven investment, to growing optimism that the worst of the financial crisis has passed. This has caused investors to buy commodity-linked and higher-yielding currencies, which rallied earlier last week.
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