India, Aug. 19 -- The U.S. dollar weakened against other major currencies in the European session on Wednesday, as traders await the release of the minutes of July's Federal Reserve (Fed) monetary policy meeting, due later on the day.
In the midst of a divided committee, the central bank-maintained interest rates on hold and did not provide investors with any forward direction during that meeting.
Due to Chairman Kevin Warsh's continued commitment to the Fed's "no forward guidance" policy, it is anticipated that the FOMC minutes will have no effect on interest rate expectations. Citing upside inflation risks, the Fed opted during the meeting to maintain interest rates in the 3.50%-3.75% range.
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