By John McCrank NEW YORK (Reuters) – The U.S. dollar rose on Wednesday, holding most of its earlier gains after minutes from the Federal Reserve’s May meeting showed that most participants believed half-percentage-point rate increases would likely be appropriate in June and July. All participants at the May 3-4 policy meeting backed the Fed’s 50 basis point rate increase this month to combat inflation they agreed had become a key threat to the economy’s performance and was at risk of accelerating without central bank action, the minutes of the session showed. “As it conducts a pair of 50 bp ra…