U.S. Dollar Rebounds On Inflation Worries
CANBERA (dpa-AFX) - The U.S. dollar gained against its major counterparts in the European session on Wednesday, amid a pullback in European shares on growing inflation concerns and a possible policy tightening by the U.S. Federal Reserve.
Investors turn their attention to the minutes of the Federal Reserve's April monetary policy meeting, which could offer policymakers' views on the recovery, inflation and potential timing of any monetary policy adjustments.
The Fed has repeatedly signaled that the recent increase in inflation largely reflected 'transitory factors' and it intends to keep policy accommodative for some time to come.