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Non-event Minutes but maybe the dollar rally is getting tired? – SG

FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale cites Brian Jones’ comments that there was barely any volatility seen in the market after of the FOMC Minutes release.

Key Quotes

"Brian Jones' take is that market volatility barely registered and certainly didn't cause a re-think on ending QE, while the FOMC is watching inflation expectations (gosh, do they sometimes not watch them?).”

“At the margin, I wonder if a long-standing bearish bias at the front end of the treasury curve means that there are more buyers in 2s and 5s than sellers, which in turn means more pressure for dollar correction."

"The EUR/USD corrections to date in this downtrend have been very modest, but if I get to work in the morning to find us at 1.26 I'll be wary of a bigger move.”

“Likewise, I see nothing here to help push USD/CAD up further, or AUD/USD down, unless we get a clear steer from the HSBC China PMI in 5 years' time.”

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