The yen rose briefly on safe-haven demand after North Korea said it conducted a test of a new intercontinental ballistic missile (ICBM) that can carry a large nuclear warhead.
The Canadian dollar and other commodity-sensitive currencies pared losses following the Fed minutes. Earlier, they were down with tumbling oil prices.
The June minutes showed several Fed officials expressed concerns about the downshift in inflation data even as most agreed to raised rates by a quarter point last month.
"The Fed can tighten further, but not too much further from here," said Adnan Akant, head of currencies at BNP Asset Management in New York.
U.S. inflation and growth remained sluggish, which would limit rate increases, Akant said.
Sliding energy costs have helped prevent inflation from reaching Fed's 2 percent goal, and also stoked bets for the dollar to fall.
Bearish bets on the greenback increased in late June as the European Central Bank and Bank of England hinted they might consider scaling back monetary stimulus later this year.
The dollar index <.DXY> was flat at 96.237 after touching a one-week high. In the second quarter, this gauge tracking the greenback against six currencies fell 4.71 percent, its biggest quarterly drop since the third quarter of 2010.
The euro
The greenback was at 113.14 yen
U.S. financial markets were closed on Tuesday for the July Fourth holiday.
Oil prices slid nearly 4 percent, hitting commodity-sensitive currencies before the Fed minutes.
The Canadian dollar
(Additional reporting by Saikat Chatterjee in LONDON, Hideyuki Sano in TOKYO; Editing by Toby Chopra and Meredith Mazzilli)
By Richard Leong
