Category Archives: A-Post

21 Nov: US$ rules! Plenty more come. Market now looking to the FOMC Minutes (Wed) for guidance.

The US$ continued its relentless run higher on Friday as the markets price in the near certainty of a December Fed rate hike, with the Dollar index reaching 101.48, the highest level in 23 years, before drifting a little lower as profit taking set in ahead of the weekend. Following on from Janet Yellen’s hint on Thursday of an imminent hike, St. Louis Fed president James Bullard (recently dovish in outlook) seemed to underline her comments by saying that “markets are currently pricing in a high probability of a December move and I am leaning toward supporting that”. The dollar had already made its move for the day, led by the Yen which remains under heavy pressure but with the EU majors and the Aud also showing weakness, with technical signs of plenty……………..