A rate hike mid next year from Fed - BBH

FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted that surveys suggest some banks see a Q1 15 hike by the Federal Reserve, apparently taking seriously Yellen's poor attempt to give some temporal measure of "considerable period".

Key Quotes:

"We see Yellen having stepped back from that position, which was never a commitment, and that yesterday's comments by NY Fed President Dudley is the truer signal."

"A rate hike around the middle of next year seems most likely based on an information set that is very dynamic. We continue to see the first Fed hike in Q3 15 as the most likely scenario."