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FOMC Minutes Highlight FX Policy Divergences
The June FOMC minutes confirms that the Federal Reserve is edging closer to tapering asset purchases. According to today’s release, “various participants mentioned that they expected the conditions for beginning to reduce the pace of asset purchases to be met somewhat earlier than they had anticipated at previous meetings.” The U.S. dollar edged slightly higher on the back of the release as the Fed minutes support renewed greenback demand. U.S. policymakers are growing more comfortable with the idea of reducing asset purchases and an announcement could be made as quickly as the fourth quarter of 2021. There’s ... (full story)