• GBP/USD initially lower to 1.5500 despite dovish Fed minutes, but reverses
  • Offers by 10/200-DMA at 1.5590, above eyes 1.5669 Tuesday’s high
  • Fed concerned about global risks including Greece
  • Many members felt it unlikely US econ could improve enough to hike in June
  • Sees early 2015 slowdown as largely temporary, expects higher inflation

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