FOMC Meeting Minutes Released - 08/17

The U.S. dollar fell to session lows after the minutes from the Fed's July FOMC meeting showed that several officials wanted more evidence that inflation and overall economic recovery were on the rise.

The minutes did show that some policymakers were becoming concerned about the long-term negative impact of low rates on the economy, but overall, the lack of a clear hawkish signal in the minutes sent the dollar broadly lower.

The minutes are especially disappointing for dollar bulls considering that the data since the last FOMC meeting in July has been noticeably weak. The non-committal Fed continues to keep any upside for the dollar very limited.