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Flash: We expect the Federal Reserve Chairman to say essentially three things - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts are expecting Fed Chairman Bernanke to say three things today.

First, they think that he will say that the Fed has made progress on its thinking of the QE-exit strategy. Second, that there will be no imminent tapering off of purchases of long-term assets and that the decision is dependent on the trajectory of prices and the labor market. Third, that fiscal policy and weakness in Europe are headwinds for the US economy and that the Fed cannot yet be assured that economic growth is sustainable. They write, “We suspect some late dollar longs are vulnerable if Bernanke hits these points.”

Flash: As for the UK data...Yuck! - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the MPC Minutes revealed that despite better economic data and an extension to the FLS, the vote for increase asset purchases remained tight at 6-3.
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American equity markets open higher ahead of FOMC

The US stock market has opened higher Wednesday, ahead of the critical FOMC minutes later this afternoon at 18:00 GMT. The elephant in the room is the status and fate of the QE program in the US, which certainly has the potential to cause waves in markets.
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