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FOMC Minutes highlighted the division among officials on inflation outlook, though majority still think inflation will ultimately pick up. December hike is virtually a done deal but what comes after that will increasingly hinge on inflation progress. U.S. dollar was sold ahead of and after the release.
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FOMC Minutes seen as mildly dovish
As expected, there was nothing shocking in the Minutes of the FOMC meeting that concluded on September 20th. Division between those who believe that inflation is low due to transitory factors and those who think it's just a new normal, is nothing new but the market seemed to take this as a mildly dovish sign.
U.S. dollar has already been weakening this week and, after a minor whipsaw, prices just continued on the path of least resistance. December hike from the Fed is pretty much priced in at th…
U.S. dollar has already been weakening this week and, after a minor whipsaw, prices just continued on the path of least resistance. December hike from the Fed is pretty much priced in at th…