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Dollar up slightly vs euro, franc after mixed Fed messages
Imaduddin
19 May, 2016
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Copyright Reuters, 2016
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![](https://i.brecorder.com/images/2016/05/us-dollar-6001.jpg">NEW YORK: The US dollar rose slightly against the euro and Swiss franc on Thursday after the president of the New York Federal Reserve said the central bank was on track for a rate hike in June or July, but the greenback slipped against the safe-haven yen on risk aversion.</P><P>The euro was last down 0.11 percent against the dollar at $1.1204 after the comment from William Dudley, who also said there was a strong sense among Fed policymakers that markets were underestimating the probability of monetary policy tightening.</P><P>While the dollar gained against the euro and Swiss franc on Dudley's remarks, it remained below multi-week highs touched earlier given comments from Fed Vice Chairman Stanley Fischer that disappointed investors a day after minutes from the Fed's April meeting signaled a June hike was firmly on the table.</P><P>Fischer said the United States required faster potential economic growth in order to lift the long-run equilibrium interest rate. He also did not comment on the likelihood the Fed will raise interest rates again in June.</P><P>The euro earlier touched its lowest level against the dollar in more than seven weeks, at $1.1181, on the after-effects of the Fed minutes released on Wednesday.</P><P>)
