FXStreet (Delhi) – Michael Every, Research Analyst at Rabobank, notes that the yesterday’s release of Fed’s minutes were quite clear about the members willingness to raise interest rates when the meet in December. Key Quotes “For once the Fed’s minutes were actually quite clear in their message: “FOMC members wanted to convey December liftoff may be appropriate”, even though they are still dependent on data, and a minority of doves wanted to delay longer, seeing downside risks to the outlook. Given weak US data don’t seem to be dissuading the hawks (will housing starts slumping 11.0% yesterday vs. -3.8% expected have made a greater impact on them?), it looks that 16 December is The Big Day.” “As the Fed’s Dudley emphasized yesterday, the Fed’s view is that raising rates will signal their confidence in the economy. 2-year US yields were understandably up another 3bp to 0.88% after the minutes while 10-year yields tried to track that and then changed direction, closing unchanged at 2.27%, and hence flattening the 2s-10’s curve further to 140bp, the lowest figure since 20 April.” For more information, read our latest forex news.