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USD: Fed rate is coming in 2015- MUFG

FXStreet (Delhi) – Lee Hardman, Research Analyst at MUFG, suggests that the US dollar has continued to rebound overnight recovering recent lost ground against Asian currencies and it is deriving support from comments by Fed officials which are keeping alive expectations that they will begin to raise interest rates this year.

Key Quotes

“Atlanta Fed President Lockhart stated overnight that while recent market volatility has raised risks to the US economic and inflation outlook, he remains confident that they will begin to raise interest rates this year.”

“Last week’s decision to leave monetary policy unchanged was described as a close call and that he had voted with the majority to leave policy unchanged as “prudent risk management around recent and current market volatility”. He said it was too early to know whether this episode amounts to a bona fide shock to the US economy or just a nervous spasm in the markets. As things settle down he emphasized that he will be ready to raise interest rates and remains confident that the much-used phrase “later this year” is still operative.”

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