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What's Moving The U.S. Dollar

The U.S. dollar remains in consolidation after minutes from the Federal Reserve's March meeting, released Wednesday, showed officials were uncertain when the appropriate date to raise benchmark rates would be. The U.S. dollar is represented by PowerShares DB US Dollar Index Bullish (NYSEARCA:UUP).

Fed officials have remained cautious over policy tightening as U.S. economic data weakened in recent months. Since 2008, the benchmark lending rate has been held at 0.25%. Moreover, the Fed ended its bond-purchases program last year, signaling the next step would be to raise interest rates. At the March meeting, most board members agreed that removing the word "patient" was appropriate. However, there was less agreement over when actual rates would rise. According to CNBC, Read more