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The dollar managed to regain some footing after tanking to a two-week trough versus the Japanese yen. Despite nursing its losses, the greenback is still bound for weekly declines after the Federal Reserve meeting minutes dashed the momentum of dollar bulls.
The U.S. dollar ticked up 0.1 percent and exchanged hands at 112.73 yen, but was still close to a two-week low of 112.55 hit overnight. It is on track for drop of 0.3 percent this week.
The dollar index fell 0.2 percent to 100.970 and will end almost flat for the week.
Pressure from the Fed minutes released on Wednesday, which struck a more dovish tone than expected, lingered in the forex markets and continued to weigh on the dollar.
Another factor providing pressure to the currency were U.S. Treasury Secretary Steven Mnuchin's comments in his first public interview, in which he remarked that any policy imposed by Trump administration are seen to have a limited effect this year. He also said that a tax reform must be passed before the recess of the congress, a timeline that fails to fulfill expectations of immediate reform.
