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Some Hawkish Comments from FOMC Members

There are some hawkish comments from two different FOMC members this weekend. The first is John Williams, President of the Federal Reserve Bank of San Francisco. He says that the call to keep rates steady in September was a close one and he expects rates to rise later this year. More on this HERE.
James Bullard, President of the Federal Reserve Bank of St. Louis, says that he would've voted for a rate rise and added that the case for policy normalization is strong because the FOMC objectives hav…
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FOMC Leads to Dollar Sell-Off

The long awaited FOMC meeting lead to a Dollar sell-off. The Fed didn't raise rates (this was expected) but they also sounded way more dovish this time around, citing foreign risks to growth and low inflation. Chairwoman Yellen also expressed her opinion that the labor market is far from full employment, if you take into account other factors like under-employment.
This was a slight surprise for me since I expected a more hawkish statement. I longed the USD/JPY in the aftermath of the announceme…
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Biased Toward USD

The all-important FOMC meeting is now only 3 days away and we're already seeing plenty of volatility and two sided moves. The Euro opened the session at 1.1331, rallied to a high of 1.1372 then fell 90 pips to a daily low of 1.1282. We eventually closed the day at 1.1315, only 16 pips in the red.
The Pound had an equally unimpressive session, with swings from high to low of 97 pips but ultimately the GBP/USD closed down by only 4 pips. The USD/JPY is the only one that made some headway, with a d…
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