FX Update: USD rebounds on tone deaf FOMC minutes
The FOMC minutes yesterday offered little comfort that the Powell Fed is ready to bring more up-front easing. Markets weren’t particularly reactive to the development, but the USD has bobbed back higher and could head higher still if Powell fails to deliver the right degree of dovishness at tomorrow’s Jackson Hole speech.
FX Update: Powell Fed between a rock and a hard place
Markets are trading nervously, waiting Friday’s speech from Fed Chair Powell for a sense of whether the Fed is catching up the cold reality that it is no longer really in control of its policy trajectory, but can only hinder or accelerate the path toward zero rates and massive QE.
FX Update: Trump is panicking and USD is breaking up
A remarkable day yesterday for the Trump administration, as the president seems to be panicking on all fronts to bring support to the economy and markets. And yet the US dollar continues to press higher as we eye an important speech from Fed Chair Powell at Jackson Hole, Wyoming on Friday.