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BoA/ML say the USD decline since the FOMC Minutes reflects positioning

Discussion in 'Market News' started by ForexLive, Nov 19, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Bank of America / Merrill Lynch on the FOMC Minutes and move in the US dollar This is via eFX The October FOMC minutes covered a wide-range of views among the Committee, with arguably a few more dovish comments than the market anticipated. Nonetheless, "most" Fed officials thought the conditions to hike "could well be met by the next meeting." Specifically, the cumulative improvement in the labor market and reduction in global risks should give many FOMC voters great confidence in the outlook. That said, it was notable that "most" voters still were not yet reasonably confident on their inflation outlook. The Fed remains data dependent; our expectation remains that conditions should allow the FOMC to hike come the December meeting.

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