RBS: FOMC Minutes might be positive for the Dollar – eFXnews

FXStreet (Barcelona) - The Research Team at RBS believes that although the FOMC Minutes might be perceived as dovish, Fed inclination towards a hike in 2015 might be positive for the Dollar, as noted by eFXnews.

Key Quotes

“The Fed minutes should bring considerable interest. The minutes, along with the statement and recent Fed-speak, may prove to be frustratingly vague on the committee’s view of the timing of the first rate hike, noting that it simply depends on the data.”

“The statement downgraded language on the labour market but added that the weakness seen in the first quarter was likely transitory.”

“The FOMC continues to expect that economic growth will rebound in the second quarter but that the confidence in that view may have retreated somewhat. As that stance is consistent with recent comments from Fed members, a sharp market reaction may be unlikely.”

“While the commentary may lean dovish, perhaps reflecting lessened confidence in the spring rebound, the fact that the Fed still sees itself on pace to hike in 2015 may prove to be a positive for the USD.”

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