Dollar Stays Weak After Hawkish FOMC Minutes Release

The US Dollar Index (DXY) is struggling to gain traction Wednesday, trading around the 101.00 mark despite the release of hawkish minutes from the Federal Open Market Committee’s June 16-17 meeting.

Market participants had expected a more supportive reaction for the dollar given the minutes’ firm stance on inflation and rate policy, but the lack of follow-through buying suggests the market had already priced in the hawkish outlook. The greenback remains under broad pressure against major peers.

The FOMC minutes were the first under the current Fed chair, though the official summary did not introduce new policy signals that could shift near-term expectations.