Here Is How the Federal Reserve Slowed the Dollar's Gains

The dollar's recent strengthening took a breather Thursday after the Federal Reserve's minutes reiterated the central bank's desire to raise interest rates gradually. Investors were banking on a faster pace of normalization, amid expectations that fiscal stimulus from the incoming Trump administration would help complement monetary policy. Craig Erlam, senior market analyst at Oanda, based in London, said investors were getting a little too carried away, with the dollar surging to a 14-month high against a basket of currencies in recent weeks.