Dollar mixed after Fed minutes

AP News

11/14/2012 4:54:44 PM - AP News

NEW YORK (AP) — The dollar traded mixed against other currencies Wednesday after minutes from the Federal Reserve's latest meeting signaled that it will likely launch a new bond-buying program in December to boost the economy.

The purchases would lower long-term borrowing rates to encourage spending and strengthen the economy and the job market. Those purchases can also weaken the dollar.

The euro rose to $1.2745 in late trading Wednesday from $1.2705 late Tuesday.

Also Wednesday, the Commerce Department said that retail sales fell 0.3 percent last month after three months of gains. Sales at auto dealers fell 1.5 percent, the most in more than a year.

The British pound fell to $1.5854 from $1.5874.

The dollar rose to 80.17 Japanese yen from 79.41 Japanese yen and to 1.0030 Canadian dollar from 1.0013 Canadian dollar.

The dollar fell to 0.9443 Swiss franc from 0.9474 Swiss franc.