NEW YORK: The dollar weakened against a basket of currencies on Wednesday as a record of the Dec. 15-16 meeting from Federal Reserve policy-makers supported bets further U.S. rate hikes would be gradual on concerns about persistent low inflation.

Members of the Federal Open Market Committee, the Fed's policy-setting group, unanimously voted to increase U.S. rates for the first time in nearly a decade last month due to an improving labor market.

The dollar index that measures the greenback against a group of six currencies was last down 0.1 percent at 99.303 following the release of the FOMC minutes.

Copyright Reuters, 2016