On Wednesday, the EUR/USD fell below 1.1800 for the first time since early April.
The FOMC Minutes revealed that officials are still apprehensive about the economy.
The US Dollar Index lost a significant amount of its daily advances.
On Wednesday, the EUR/USD pair fell to 1.1782, its lowest level in three months, but recovered in the late American session. The pair was trading at 1.1810 at the time of writing, still down 0.1 percent on the day.
The market value of the US dollar continues to be the key driver of EUR/USD swings. The US Dollar Index hit its highest level since early April at 92.84 earlier in the day, causing EUR/USD to prolong its daily decline.
However, some policymakers underlined in the FOMC’s June meeting minutes that the Fed should be careful in disclosing modifications to its asset purchases due to the uncertainty surrounding the economy’s recovery.
“For numerous participants, this increased uncertainty about the economy’s trajectory also meant significant doubt about the proper path of the federal funds rate,” according to the statement.
Following this announcement, the dollar began to lose strength, allowing EUR/USD to retrace its daily losses. The US Dollar Index is currently trading near 92.60, clinging to tiny daily gains./n
