The U.S. dollar gained against the yen on Wednesday for the first time in four days after the minutes from the Federal Open Markets Committee's (FOMC) March meeting were released, indicating that central bank members actually seem a little more pessimistic about the chances for any immediate changes in interest rates.
By afternoon trading, the dollar rose 0.46 percent to 111.25 yen.
The dollar index, which tracks the U.S. currency against a trade-weighted basket of six peers, was up slightly at 100.68. The index briefly hit a high of 100.85, its highest level since March 15, when it was trading as high as 101.72. But anxiety about the U.S.-China meeting and a risk-averse mood this week have kept it from further gains.
The euro, meanwhile, slipped 0.17 percent to $1.0654.
Officials now seem to believe that any boost from President Donald Trump's plans to cut taxes, lower regulations and increase infrastructure spending won't happen until at least 2018.
At the December meeting, FOMC members indicated their belief that stronger fiscal policy was on the way, and they boosted their growth forecasts accordingly.