US dollar climbs ahead of Fed minutes

The US dollar rose against most major currencies as investors were awaiting the closely-watched Federal Reserve minutes of its latest meeting.

In late New York trading on Tuesday, the euro fell to $1.1052 from $1.1139, and the British pound declined to $1.2126 from $1.2356, Xinhua news agency reported.

The Australian dollar decreased to $0.7543 from $0.7605.

The dollar bought 103.34 Japanese yen, lower than 103.69 yen in the previous session. The dollar inched up to 0.9885 Swiss francs from 0.9827 Swiss francs, and it rose to 1.3250 Canadian dollars from 1.3170 Canadian dollars.

The US central bank will release the minutes of its September monetary policy meeting on Wednesday, which is expected to give out more clues of Fed's further rate-hikes.

Analysts said recent overall positive data have shown compelling strength that could green light a US rate hike by the end of the year.

Some Fed officials also said last week that there was a strong case to raise interest rates, and the central bank should not delay rates hikes.

The dollar index, which measures the greenback against six major peers, was up 0.77 per cent at 97.676 in late trading.

--IANS

pgh/