Euro Gains Over 0.85% as Traders Look Past Hawkish Fed Minutes

The shared currency strengthened more than 0.85% during North American trading on Wednesday, even as the latest Federal Reserve minutes carried a hawkish tone.

According to the minutes, some participants — along with the three dissenters — suggested that raising rates could be necessary depending on the disinflation process. Traders nevertheless pushed the euro higher, looking past the Fed’s messaging.