Dollar continues to fall after the Fed meeting minutes

The US dollar fell against most of its major counterparts on Thursday, after the Federal Reserve meeting minutes, despite the release of upbeat economic data.

The US Department of Labor revealed that the number of initial unemployment claims was at 293K last week from 329K, lower than forecasts of 315K.

The producer price index rose 0.5% in September, missing forecasts of 0.6%, while the core reading of the same index rose 0.2%, missing forecasts of 0.5%.

The Federal Reserve meeting minutes showed that the central bank's members discussed a plan to reduce asset purchases by $15 billion per month.

The Fed members expected the central bank to start cutting the pandemic bond-buying program starting Mid-November.

The dollar index rose against a basket of major currencies by 0.1% to 93.9 points as of 19:05 GMT, after hitting a high of 94.09 points and a low of 93.7 points.