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8 Jan 2015
USD firms against the Yen – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team notes that USD firmed against the Yen despite dovish remarks from FOMC member Evan.
Key Quotes
“Fed minutes clarified that participants thought the "reference to patience indicated that the Committee was unlikely to begin the normalization process for at least the next couple of meetings", potentially signaling that as long as "patience" remains in the statement, liftoff in rates is a couple meetings away.”
“During the Asian session, one of the FOMC's more dovish members, Chicago's Evans, added he'd like to see rates on hold until 2016. Evans also noted that inflation outlook is worrisome, growth would trend in 2.0-2.25% range, and the housing sector is yet to show evidence of required strength. Despite the dovish remarks, USD is still a bit firmer in the key majors with USD/JPY up 60pips above 119.70 on risk appetite.”
“Shanghai Composite has lost some momentum after a torrid end of 2014 and is also lagging other regional indices today.”
Key Quotes
“Fed minutes clarified that participants thought the "reference to patience indicated that the Committee was unlikely to begin the normalization process for at least the next couple of meetings", potentially signaling that as long as "patience" remains in the statement, liftoff in rates is a couple meetings away.”
“During the Asian session, one of the FOMC's more dovish members, Chicago's Evans, added he'd like to see rates on hold until 2016. Evans also noted that inflation outlook is worrisome, growth would trend in 2.0-2.25% range, and the housing sector is yet to show evidence of required strength. Despite the dovish remarks, USD is still a bit firmer in the key majors with USD/JPY up 60pips above 119.70 on risk appetite.”
“Shanghai Composite has lost some momentum after a torrid end of 2014 and is also lagging other regional indices today.”