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Fed expected to end QE purchases in October - TD Securities

FXStreet (Łódź) - The TD Securities team of experts predict that the FOMC will finalize the QE3 program at the monetary policy meeting on Wednesday, which should boost the USD.

Key quotes

"But we expect the Fed to retain the dovish language that has framed recent policy statements tomorrow and stress that policy rates will not be increased for a considerable period."

"Unless the Fed language is more obviously hawkish, the USD may struggle to extend gains for the moment."

"The broader USD rally has clearly lost some momentum over the past couple of weeks and the markets are now entering a period of the year where seasonal patterns typically turn more USD negative."

"For choice, we would rather favour fading USDJPY gains through the low 108 area intraday and stopping out above yesterday's (bearish outside range session) high."

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