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Euro, Sterling Rise as Dollar Weakens

Euro, Sterling Rise as Dollar Weakens

On Thursday, a basket of major currencies strengthened against the dollar as the U.S. currency continued to weaken in Asian trading after the release of the minutes of the September Federal Reserve policy meeting.

Following a subdued currency trading on Thursday, the found rose 0.3 percent to $1.325, while the euro advanced 0.1 percent to $1.187.

Meanwhile, the Korean won and the China's renminbi both rose 0.1 percent at 1,133.40 won and Rmb6.5734 respectively. The Japanese yen declined 0.1 percent to 112.48.

The dollar index fell by 0.2 percent, following a 0.4 percent decline in the previous day that came in the wake of its worst performance in a month that was seen on Tuesday.

The decline in the greenback comes as a dovish tone from the U.S. Federal Reserve overnight affect investors' sentiment. Minutes from the policy meeting on September 20 revealed policymakers voicing worries that the low inflation observed in the economy was not temporary.

Markets will now pivot their attention on speeches ECB President Mario Draghi and Fed officials, Jerome Powell and Lael Brainard.

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