FXStreet (Barcelona) – The BNP Paribas Team shares their observations on the June FOMC Meeting Minutes and the USD, as shared by eFXnews.
Key Quotes
“The release of the minutes to the June FOMC meeting Wednesday may provide a timely reminder that the Fed is moving towards tightening, even though the meeting predated the June jobs data and the latest Greece news.”
“Our economists point out that five FOMC members arrived at the June meeting anticipating that three rate hikes would be appropriate by the end of 2015—their optimistic views on the outlook and inclination to begin hiking at least by September, if not earlier, should be reflected in the minutes.”
“San Francisco Fed President Williams, who has been an advocate of rate hikes this year, will also speak, and it will be important to see if the latest news has impacted his thinking.”
“We remain patiently bullish on the USD, even though it now seems as if we will need to wait a few more months for the big adjustment higher in US front-end rates we had been anticipating this month.”
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