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The US Dollar Closed the week higher despite a FOMC statement that warned traders of a potential push back in a rate hike.
The FOMC statement outlined some concerns with inflation, which has been on a decline since the plunge in oil prices. Inflation is a key element to monetary policy, and with interest rate hikes on the loom, the Fed has expressed concerns over potential deflation. This is already a major concern globally and other central banks have already acted by making adjustments to their monetary policies.
This week will see Fed's Yellen testify on Tuesday. This will be an opportunity for the market participants to gain some further insight on the severity of the Fed's concern. If it is hinted again that a normalization will be delayed until we see some stabilization in oil, or more importantly inflation, we may once again see the USD fall. And perhaps this time take out some major support in the process
The FOMC statement outlined some concerns with inflation, which has been on a decline since the plunge in oil prices. Inflation is a key element to monetary policy, and with interest rate hikes on the loom, the Fed has expressed concerns over potential deflation. This is already a major concern globally and other central banks have already acted by making adjustments to their monetary policies.
This week will see Fed's Yellen testify on Tuesday. This will be an opportunity for the market participants to gain some further insight on the severity of the Fed's concern. If it is hinted again that a normalization will be delayed until we see some stabilization in oil, or more importantly inflation, we may once again see the USD fall. And perhaps this time take out some major support in the process
