Dollar slides in Asia after Fed minutes highlight policy risks

The dollar dropped against its Group-of-10 peers as investors in Asia trimmed bullish positions after minutes from the Federal Reserve’s December meeting showed officials were grappling with uncertainties about Donald Trump’s policies and the possible impact on growth. The greenback fell the most against the yen among developed-market currencies, partly on macro and leveraged selling, according to a trader. The DXY dollar gauge dropped as much as 0.7 percent after the Fed minutes published Wednesday showed that officials “emphasised their considerable uncertainty about the timing, size, and composition of any future fiscal and other economic policy initiatives as well as about how those polices might affect aggregate demand and supply.”The dollar climbed as much as 1.4 per cent in the first two trading days of the new year to reach 118.60 yen, before relinquishing gains.