Euro slides against dollar ahead of Fed minutes
The Associated Press, Berlin | Tue, 10/12/2010 3:04 PM
The euro is down against the dollar as investors await the release of minutes from the Federal Reserve's September meeting.
The 16-nation currency bought $1.3802 in early European trading Tuesday, down from $1.3891 late Monday in New York.
The U.S. currency had been selling off since the Fed's Sept. 21 meeting, when the central bank said it was ready to take more steps to prop up the economy.
Investors will scrutinize the minutes, to be released later Tuesday, for hints that the Fed may loosen its monetary policy, in an effort to lower market interest rates but also weakening the appeal of dollar assets.
The dollar fell slightly against the British pound to $1.5862 from $1.5886 late Monday in New York, and bought 81.92 Japanese Yen, down from 82.07 yen.
