Dollar recovered on Fed Minutes, IFO & S Korea’s clarification

The Prices paid by U.S. consumer, CPI rose 0.1 percent in January (expected at 0.2%), easing concern that increasing prices would spur inflation.
While core CPI (excluding volatile food and energy cost) increased to 0.2 percent. Dollar gained across the board on release of the Fed minutes for February, which showed that fed funds rate is still on the lower side to contain inflationary pressures, especially incase of a weaker dollar, thereby increasing chances of a further rate hike.
Germany’s IFO index for Business Climate came below expectation (of 96.7) at 95.5. Both the indices for business expectation and current condition slipped to 96.4 and 94.5 respectively, restricting the single currency’s gains to 1.3274.
Cable shot above 1.91 on minutes of the Bank of England meeting for February showing one vote (8-1) in favor of 25-bp interest rate hike from the current 4.75%.
Clarifications from South Korea and Japan on not diversifying their portfolio into euro – resulted in yen losing ground from the 104 handle sinking to a low of 105.1 on the continuous surge in the crude oil price.