By Peter Nurse Investing.com - The U.S. dollar edged lower in early European trade Thursday, continuing the previous session's selloff after the minutes from the latest Federal Reserve meeting signaled a slowdown in future rate hikes.At 03:05 ET (08:05 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, fell 0.1% to 105.933, after sliding 1% overnight.The dollar saw selling after the minutes from the latest Federal Reserve meeting revealed that a "substantial majority" of policymakers expected a slowing in the pace of rate hikes to soon be appropriate.The Fed raised its key rate by three-quarters of a percentage point earlier this month, for the fourth straight time in an effort to tame soaring inflation, but the minutes largely cemented expectations for a 50-basis-point hike in early December.EUR/USD rose 0.1% to 1.0407, benefiting from the dollar selloff as traders wait for the release of the account of the last European Central Bank meeting later in the session.Eurozone inflation soared above 10% in October, but the November PMIs pointed to the region entering recession, creating a dilemma for the ECB policymakers.The ECB will certainly raise its interest rates considerably, though how far it ultimately goes will depend on how the economic situation develops, the head of Germany's Ifo economic institute said on Tuesday."The ECB still has quite a long way ahead of it," said Clemens Fuest. "That's simply because it just started late."Also of interest will be the German Ifo business climate index, with traders looking to see the degree of business confidence in the most important economy in the Eurozone.GBP/USD rose 0.2% to 1.2078, adding to the previous session's 1.5% gain after preliminary British economic activity data beat expectations, even though it still pointed to an economic contraction.Investing.com