LONDON (AFP) - The dollar came under renewed pressure from the euro and yen, even as minutes released by the US Federal Reserve from its August meeting hinted at a steady pace of US interest-rate tightening.
The single European currency stood at 1.2277 dollars from 1.2270 late on Thursday in New York.
The dollar traded at 110.65 yen from 110.79 on Thursday.
The price of gold eased two dollars to 409.35 dollars per ounce after hitting 411.50 dollars on Thursday, the highest level for five months in the wake of a weaker dollar and high oil prices.
"The dollar managed to claw back some ground last night following the (Fed) minutes that were a little bit more hawkish than expected," BNP Paribas economist Iain Stannard said.
"Also there was a slight easing of oil prices from their peak which added a bit of support" to the dollar.
"But that initial support is now being eroded as the dollar comes under some renewed pressure as the euro tries to push higher through the 1.23-dollar level once again," Stannard added.
Federal Reserve officials acknowledged the need in coming quarters for a "significant" amount of rate hikes, according to a summary of the August 10 policymaking meeting released Thursday.
The minutes offer clues into the thinking of the Federal Open Market Committee, which this week boosted its rate for the third time since June, taking the federal funds rate up a quarter-point to 1.75 percent.
Markets were turning their focus to US durable goods orders data for August for clues on the health of the American economy.
"This is the first real piece of activity data which we have had since the last FOMC meeting so it is going to be quite important," Stannard said.
"If we do see a rebound (in the data), we could see the dollar gaining some support," he added.
The euro was changing hands at 1.2277 dollars against 1.2270 late on Thursday in New York, 135.86 yen (135.87), 0.6825 pounds (0.6837) and 1.5466 Swiss francs (1.5469).
The dollar stood at 110.65 yen (110.79) and 1.2596 Swiss francs (1.2571).
The pound was at 1.7990 dollars (1.7996), 199.06 yen (199.03) and 2.2661 Swiss francs (2.2625).
On the London Bullion Market, the price of an ounce of gold stood at 409.35 dollars against 411.50 dollars late on Thursday.