The dollar index rose for a second day in a row against six major currencies on Wednesday, recovering from a three-year low. Investors are waiting for the minutes of the Federal Reserve meeting to get new indications about the next pace of interest rate hikes.
The dollar index rose by 0.12% to 89.75 during Asian trading, the dollar index rose after falling to 88.15 on Friday, the biggest decline since December 2014.
The bank is expected to release its meeting minutes later today, amid expectations that this year's monetary tightening will boost the US dollar. In recent months, the dollar has weakened as expectations of faster Fed rate hikes were met with a range of concerns, notably weak inflation.
Expectations of accelerating monetary tightening outside the US, which would reduce the gap between the Fed and other central banks, have reduced the relative attractiveness of the dollar to investors.
