FOREX-U.S. dollar dips from 4-1/2-month high after Fed minutes, last flat on the day
* Fed minutes show no decision made on bond taper * U.S. housing starts fall, weighs on dollar (Adds new analyst comment, Fed minutes release, updated prices) By Gertrude Chavez-Dreyfuss NEW YORK, Aug 18 (Reuters) – The dollar slipped from 4-1/2-month highs to trade little changed on Wednesday after minutes of last month’s Federal Reserve meeting suggested there was no consensus about the timing of a tapering of its asset purchases under the U.S. central bank’s quantitative easing program. A reduction in debt purchases is typically positive for the dollar as it means the Fed will not be flooding the financial system with cash, increasing the greenback’s value. The minutes also said most participants “judged that the Committee’s standard of ‘substantial further progress’ toward the maximum-employment goal had not yet been met.” This means that Fed policy would remain accommodative for some time, providing no support for the dollar….
