FXStreet (Barcelona) – Previewing the key events ahead in the US, FX Strategists at TD Securities note that the dovish FOMC Minutes suggest the prospects of a Setpember rate liftoff look lower.
Key Quotes
“There is limited data on the calendar today with a handful of Fed speakers including Brainard (10:00ET, voter, leans dovish) and George (13:10ET, non-voter). Brainard will be speaking on regulatory reform so there is little potential for monetary policy implications. George on the other hand will be speaking on the economy but her non-voter status may mitigate her slightly hawkish lean.”
“Moreover, yesterday’s FOMC minutes, which showed a more dovish lean (that was consistent with Yellen’s press conference at the June meeting) than we had initially expected will remain as the prevailing bias for the Fed. The minutes showed concern over the Greek crisis and at this point, though a desire to lift policy rates later this year. With that said, the Fed still looks to be timid and the prospects of a September liftoff look lower.”
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