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Flash: QE tapering a reality or rumor? – Deutsche Bank

FXstreet.com (Barcelona) - “In terms of the Fed, relatively dovish comments from the NY Fed's Dudley and St Louis Fed's Bullard – both FOMC voters – helped put a floor on risk assets yesterday.” notes Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank.

Starting with Bullard, who is not generally known for his dovishness, remarked that the Fed should "continue with the present QE program" because it is the best available option for policy makers to boost growth. Bullard added that he doesn't see a good case for QE tapering unless inflation risks pick up.

On the topic of IOER, Bullard said that he advocates negative interest rates arguing that paying interest on excess reserves was "mildly counterproductive". Dudley backed up some of those comments about the pace of easing but stressed that QE should be largely data-dependent.

Flash: USD/CAD bullish on charts – TD Securities

TD Securities research teams say that, on the charts, they still view broader developments in USD/CAD as technically positive and remain bullish on the outlook overall.
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AUD/USD moves away from lows

The Australian dollar lost ground versus the greenback and retested weekly lows at the 0.9740 area as cautious tone prevails ahead of Bernanke's testimony and the FOMC minutes.
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