The US dollar is on its back foot. It was already sporting a softer bias and the FOMC minutes were read with a dovish twist. A Wall Street Journal poll found 64% of economists expect a hike in December, and while the minutes might not substantively change that, the confidence is weak. While most Fed officials see the conditions for lift off having been met or soon to be, the concern is that the downside risks increased as well. On surprise contained in the minutes was the repeated references to the dollar. According to Bloomberg, the dollar was mentioned at least two dozen times in the September minutes twice as much ... (full story)