The dollar was flat against the euro in late trading on Tuesday after a slight decline earlier in the session following the released minutes from the Federal Reserve's policy meeting last month.

The dollar was at $1.5710 per euro from $1.5707 late Monday. The U.S. currency was at 102.56 yen compared to 102.47 yesterday. The euro was at 161.08 compared to 160.96 yen.

Members of the Fed's money policy setting group, the Federal Open Market Committee, meeting on March 18 were concerned about a prolonged and severe economic downturn. Many of the members present felt that the economy would contract during the first half of the year only to rise in the second half.

Looking ahead, the European Central Bank and Bank of England will set interest rates on Thursday. The Bank of Japan sets rates on Wednesday.

European union