FX round-up: Dollar little changed despite Fed minutes, Russian rouble weaker

The major currency pairs were little changed as of Thursday evening, despite the release of the latest set of US central bank policy minutes which appeared to open the door to a pause in monetary policy tightening following a widely-anticipated hike in September, should there be a "major" escalation in trade tensions.

As of 1938 BST, the US dollar spot index was off by 0.16% at 95.0990, with cable higher by just 0.08% to 1.29116.

Gains in euro/dollar were similarly muted, with the pair up by only 0.13% to 1.15862.

Dollar/yen meanwhile was up by 0.21% to 110.535.

The reaction in some of the main US dollar crosses against emerging market currencies was similarly subdued, with the Greenback down by only 0.42% against the Turkish lira, nearly the same as before the release of the minutes.

Versus the Mexican peso the US dollar was off by a larger 0.83% to 18.7977, but mainly due to positive 'noise' around the ongoing trade talks between America and Mexico.

The US dollar was also holding onto its hefty gains against the Russian rouble, rising 1.61% to 68.2531, amid reports of increased pressure on the US administration to maintain a hardline with respect to sanctions imposed on Moscow and the need for more.

Weighing on the dollar throughout the day had been news that US President Donald Trump's former attorney, Michael Cohen, had pleaded guilty to an indictment for illegal campaign financing and that he had possibly pointed the finger at him as well.