U.S. Dollar climbs against major currencies

U.S. Dollar climbs against major currencies
# 21 February 2013 01:56 (UTC +04:00)

Baku-APA. The U.S. dollar advanced against major currencies on Wednesday after the Federal Reserve released the minutes of its latest meeting which indicated officials are diverged on the pace of easing measures, APA reports quoting Xinhua.

According to the minutes of the Federal Open Market Committee' s meetings on Jan. 29 and Jan. 30, several policymakers said the central bank should vary pace of the 85-billion-dollar monthly bond purchases in response to changes in economic outlook and in consideration of the efficiency of the program.

The Commerce Department reported on Wednesday that privately- owned housing starts of the U.S. in January tumbled 8.5 percent from a revised level in the prior month, but the figure was still 23.6 percent higher than a year ago, and new permits for construction jumped to a four-and-a-half year high.

Meanwhile, the pound dropped sharply to a 31-month low against the dollar after the minutes of the Bank of England's last policy meeting showed officials considered cutting interest rates and expanding bond purchases.

In late New York trading, the euro fell to 1.3284 dollars from 1.3388 dollars of the previous session and the British pound dropped to 1.5244 from 1.5424 dollars.

The dollar increased to 0.9279 Swiss francs from 0.9231 and went up to 1.0179 Canadian dollars from 1.0120. The dollar bought 93.82 Japanese yen, higher than 93.44 in the previous session.

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