FXStreet (Delhi) – Research Team at BNP Paribas, notes that the US 2-year yields have now fallen below levels prevailing when the Fed hiked in December, but we expect data and steadfast Fed commentary to ultimately force markets to fully price a March rate hike. Key Quotes “That said, it does seem as if this will be a gradual process. On Tuesday, minutes to the discount rate meeting held by Federal Reserve Banks ahead of the FOMC showed the NY Fed board was one of two boards not voting for a discount rate hike in December. However, with the vote at the actual FOMC meeting having been unanimous we do not think the discount rate meeting vote is a reliable indicator of prospects for tightening in March. Ahead today, the US data calendar is quiet, with the Beige Book the only release. The calendar remains fairly quiet in the US until Friday.” For more information, read our latest forex news.