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US Dollar Surrenders Gains Despite FOMC Minutes Taper Talk
The US Dollar is giving back gains during Wednesday afternoon trade as EUR/USD rebounds and USD/JPY pivots lower. This follows the release of FOMC minutes just now, which seems to have disappointed Fed hawks. The FOMC minutes did note that conditions would likely warrant a reduction in the pace of asset purchases in coming months, but cautious language remains. It was stated that “several” Federal Reserve officials view tapering early next year as more appropriate than before year-end given that the labor market is not close to their ‘substantial further progress’ objective, the lingering uncertainty around ... (full story)