Dollar firms against euro, yen

TOKYO: The dollar firmed against the euro and the yen on Wednesday, while India's rupee rebounded from a record low as traders await the release of minutes from the US Federal Reserve's July meeting.

Trade was cautious, with analysts expecting the Fed to soon announce the end of its year-long stimulus, which has helped fuel a global equity and forex rally.

In afternoon Asian trade the greenback fetched 97.49 yen, against 97.32 yen in New York on Tuesday. The euro sat at $1.3418, against $1.3420.

The European unit broke $1.34 in New York for the first time since January after US Treasury yields fell to 2.81 percent from a two-year high of 2.88 percent reached Monday, as bonds appeared oversold after sinking for more than three months.

The single currency was also trading at 130.87 yen, up from 130.60 yen.

Investors will be poring over the Fed minutes to find out "what kind of discussion took place over (the) possibility of reducing" its bond-buying known as quantitative easing (QE), Shinichiro Kadota, currency analyst at Barclays Capital, said in a statement.