8 Apr 2015
USD takes centre stage in today’s FOMC minutes – Danske Bank
FXStreet (Edinburgh) - According to Senior Analyst at Danske Bank Flemming Nielsen, the strength around the greenback will be a relevant topic in today’s minutes.
Key Quotes
“USD weakness has been a constant since the Fed removed the verbal obstacle to rate hikes at its March meeting; today's minutes and Dudley’s speech should give more flavour on the discussions leading up to this and to the significant downward revision to the fed funds path”.
“If worries over the stronger USD dominate the picture, this could somewhat delay the next round of the USD rally that we expect”.
“We maintain though that the current soft spot in US data will prove short-lived and thus that a first fed hike will provide USD support still on a 6M horizon”.
Key Quotes
“USD weakness has been a constant since the Fed removed the verbal obstacle to rate hikes at its March meeting; today's minutes and Dudley’s speech should give more flavour on the discussions leading up to this and to the significant downward revision to the fed funds path”.
“If worries over the stronger USD dominate the picture, this could somewhat delay the next round of the USD rally that we expect”.
“We maintain though that the current soft spot in US data will prove short-lived and thus that a first fed hike will provide USD support still on a 6M horizon”.