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USD: Fed still planning for lift-off in 2015? - MUFG

FXStreet (Delhi) – Lee Hardman, Currency Strategist at MUFG, notes that the markets are still not sure about the prospect of raising rates by the US Fed in 2015.

Key Quotes

“The foreign exchange market has been very stable overnight with the US dollar trading on a softer footing heading into today’s lecture from Fed Chair Yellen.”

“Last week’s FOMC’s meeting signalled that there is now an increased likelihood that the Fed could delay raising rates until next year which is helping to dampen US dollar strength in the near-term.”

“Today’s lecture from Fed Cahir Yellen on “Inflation dynamics and Monetary policy” will be scrutinized closely to see whether she provides any signal of whether she agrees with the majority of FOMC participants that they should still begin to raise rates this year.”

“The US dollar will likely weaken modestly if Fed Chair Yellen provides a more dovish signal which further increases the likelihood that the Fed could delay raising rates until next year. However, the content of the speech could be entirely academic and fail to provide any clear signal over the outlook for Fed policy having limited impact on the US dollar.”

USD: Focus on durable goods and Yellen speech – TDS

Prashant Newnaha, Rates Strategist at TD Securities, notes that the market’s focus will shift domestically as durable goods data and Fed Chair Yellen’s remarks capture the spotlight.
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