Morning Call: Minutes substantiate belief in less-hawkish Fed
Senior Editor, Saxo Bank
Summary: The Federal Reserve Open Market Committee's meeting minutes, released last night, have strengthened the thesis that US monetary policy is shifting trajectory. Meanwhile, the G20 showdown between the US and China over trade will dominate the agenda as the weekend approaches.
FX Update: USD funding issues in focus over FOMC meeting
Over tonight’s FOMC meeting, market participants will need to focus on the FOMC’s discussion of how it views signs of a funding crisis in the US financial system and yesterday’s sudden need to do a large overnight repo for the first time in more than a decade. The Fed’s assessment of the economy and policy guidance is secondary.
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