Institutional analysis: The Fed meeting minutes did not give a reason for the dollar to rise further

On February 23, Lee Hardman, a foreign exchange analyst at Mitsubishi UFJ, said in a report that the minutes of the Federal Reserve meeting on Wednesday showed that most officials were inclined to raise interest rates by 25 basis points, but did not provide further measures to boost the dollar. Still expected to continue to perform well.

The dollar should continue to trade on firmer ground in the near term, supported by a recent rise in U.S. short-term yields, but the Fed provided no fresh catalysts overnight to spark further upside. He said the dollar weakened modestly during Asian trading hours, especially against riskier commodity-linked currencies.