13 Dec 2013
Flash: Currencies defensive ahead of FOMC - DBS Group
FXstreet.com (Barcelona) - DBS Group Strategists note that currencies turned defensive ahead of next week’s FOMC meeting scheduled for December 17-18.
Key Quotes
“Fed Chairman Ben Bernanke will hold his last post FOMC press conference and the Fed will release its economic summary projections.”
“The US Treasury yield curve has firmed across the board. While they do not see any rate hike in 2014, Fed Funds Futures brought forward for the first Fed hike to mid-2015 from late 2015.”
“The market is sending a message that taper is no longer a zero probability at next week’s FOMC.”
Key Quotes
“Fed Chairman Ben Bernanke will hold his last post FOMC press conference and the Fed will release its economic summary projections.”
“The US Treasury yield curve has firmed across the board. While they do not see any rate hike in 2014, Fed Funds Futures brought forward for the first Fed hike to mid-2015 from late 2015.”
“The market is sending a message that taper is no longer a zero probability at next week’s FOMC.”