U.S. dollar decreases amid ECB tapering speculation

NEW YORK, Jan. 16 (Xinhua) -- The U.S. dollar fell against other major currencies Tuesday, after investors speculated that the European Central Bank (ECB) policymakers are preparing to reduce their vast monetary stimulus program.

Media reported the minutes from the ECB's December meeting showed that the central bank could shift away from its ultra-loose monetary policy efforts this year.

Reconsideration could take place if the eurozone economy continues to expand and if inflation keeps rising toward the bank's target around two percent, the minutes said.

The dollar index, which measures the greenback against six major peers, decreased 0.62 percent to 90.410 in late trading.

In late New York trading, the euro increased to 1.2272 dollars from 1.2182 dollars in the previous session, and the British pound increased to 1.3797 dollars from 1.3734 U.S. dollars in the previous session. The Australian dollar rose to 0.7963 dollar from 0.7912 dollar.

The dollar bought 110.30 Japanese yen, lower than 111.05 yen of the previous session. The U.S. dollar lost to 0.9587 Swiss franc from 0.9686 Swiss franc, and it was down to 1.2421 Canadian dollars from 1.2486 Canadian dollars. Enditem