According to analysts at TD Securities, the latest FOMC minutes overall suggested that Fed officials were starting to become more cautious on the outlook and path for policy at the December meeting.
Key Quotes
“It is suggesting that Powell’s press conference ended up being more hawkish than the consensus view on the FOMC.”
“FX: The minutes reaffirm Powell’s pledge to be patient and are likely to extend the recent move in FX markets. We remain biased to sell USDJPY rallies within a broad 105/110 range.”
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