FXStreet (Delhi) – Research Team at TDS, note that the USD selling has taken on added momentum today as flows and activity have picked up into the end of the week with the greenback lower against most liquid currencies.
Key Quotes
“The wave of USD-bearish sentiment comes after the minutes from the 17 September FOMC meeting underscored the Fed’s dovish leanings. Indeed, policymakers determined it was “prudent to wait for additional information” before delivering their first rate hike in nearly a decade.”
“This has reinforced market perceptions that the Fed’s concerns over events abroad and the headwind from the stronger USD may run deeper than initially seen. Importantly, some members noted that downside risks to both growth and inflation have increased adding to the dovish tone. While we cannot dismiss a move in January, this keeps us looking to the March meeting as the most likely candidate for the first rate hike.”
(Market News Provided by FXstreet)