NEW YORK: The dollar was weak against a basket of major currencies on Thursday, a day after Federal Reserve minutes that dialed down some expectations of the central bank hiking interest rates soon.
The dollar index, which tracks the greenback against six major rivals, was down 0.13 percent to 97.111, after falling as low as 96.88.
The greenback found some boost from general weakness in commodity currencies, which slipped following a drop in oil prices as OPEC countries meeting in Vienna looked like they would go no further with production cuts than previously expected by markets.
"The minutes sort of made it clear that the Fed wasn't going to be reducing its balance sheet anytime real soon, and the response was negative for the dollar," said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets in New York.
"Today, the dollar has found a little bit of support against some currencies, particularly the Aussie and the yen," he said.
Data showing the number of Americans filing for unemployment benefits rising less than expected last week and the four-week moving average of claims falling to a 44-year low, suggesting further tightening in the labor market, had little impact on the dollar.
The greenback was little changed against the euro and was up 0.17 percent against the yen at 111.68 yen.
The Canadian dollar weakened against the greenback, pulling back from a five-week high as oil prices slipped.
Oil prices fell after OPEC agreed to extend output cuts for nine more month, dousing hopes for deeper, longer cuts.
The Australian dollar fell 0.53 percent against the greenback to $0.7462, hurt by a weak domestic construction report and still bruised after news earlier this week that major commodities importer China had its sovereign debt rating cut.
General softness in commodities, including weakness in iron ore prices, were a drag on the Aussie's performance, Shaun Osborne, chief FX strategist at Scotiabank in Toronto, said. Meanwhile, sterling edged lower against both the dollar and the euro after data showed Britain's economy slowed more than previously thought in the first quarter of this year.
The pound was 0.11 percent lower against the dollar at $1.2959.
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