The dollar rose after the minutes of the Fed show support " tapering "

The dollar rose after the minutes of the Fed show support " tapering "

 The dollar rose against most other major currencies on Wednesday (Thursday morning GMT ) , after the minutes of the U.S. Federal Reserve meeting showed most policymakers support the reduction of monetary stimulus .

At 22:00 GMT ( Thursday at 5:00 pm ) , the euro bought 1.3574 dollars , down from 1.3613 dollars a day earlier , AFP reported .

The dollar firmed to 104.82 yen from 104.56 yen .

The euro weakened against the Japanese currency , be 142.26 yen from 142.34 yen .

Minutes of the Federal Open Market Committee meeting ( FOMC ) of the Fed on December 17 to 18 , showed that the " vast majority" of participants think the U.S. unemployment will continue to decline even if the Fed reduces the stimulus .

The Federal Reserve on December 18 announced that they will begin to cut monthly asset purchases or quantitative easing ( QE ) in January of 10 billion dollars to 75 billion U.S. dollars per month .

" The fact that the minutes did not significantly change the outlook for a gradual and steady reduction in the Fed stimulus remains positive for the dollar , " said Omer Esiner , chief market analyst at Commonwealth Foreign Exchange .

" Indeed , as economic data improved , there is a risk that the Fed could be more aggressive in the reduction of monetary stimulus . "

But Kathy Lien , director of BK Asset Management , said the treatise does not trigger a " big movement " in the U.S. dollar , even if the currency continued to rise on Wednesday against most major currencies .

One reason is that the " treatise gives a little rician future rate of decline , " Lien said in a research note . " While the minutes show a commitment to reduce QE , there is nothing to get excited investors to buy dollars . "

Analysts are monitoring the outcome of the monetary policy meeting of the European Central Bank ( ECB ) on Thursday . Although the economic outlook in the euro zone remains uncertain , many analysts expect the ECB to refrain from further stimulus at this time .

" Tomorrow , we hope ( President of the ECB ) Mario Draghi said that while further stimulus remains an option , they feel comfortable with the current level of monetary policy and are in no hurry to ease again , " said Lien .

Among other currencies , the British pound rose to 1.6447 dollars from 1.6399 dollars .

The dollar rose to 0.9111 Swiss francs from 0.9093 francs .