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Fed: plenty of noise but no change - BBH

FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained that despite all the noise, there has been no significant change in the expected timing of the first Fed rate hike.

Key Quotes

"Indeed, the implied yield of the June 2015 Fed funds futures is at the lower end of its five-month trading range."

"It currently implies an effective (average) Fed funds rate of 24.5 bp in June 2015. It was briefly lower than this in mid-August and in late-May."

USD Conditions feeding through - BMO Capital Markets

Before the disappointments in US data, besides the ADP report, Stephen Gallo, European Head of Currency Strategy at BMO Capital had noted that the DXY was trading slightly higher by the end of the London morning, but the broad value of the USD failed to re-test the highs observed on Tuesday.
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