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Preconditions for Fed rate liftoff ‘nearly’ in place – IMF

FXStreet (Mumbai) - The International Monetary Fund (IMF) for the first time has said that the conditions necessary for the much awaited Fed lift-off in the US are ‘nearly in place’.

The IMF expressed confidence that the Fed would enable ‘smooth absorption’ of rising rates, but warned that risks are shifting to emerging markets as liftoff nears, adding further that several emerging economies are at a risk of a downgrade.

The IMF also sees a ‘heightened’ probability of a global asset-market disruption. ECB policies are taking hold and credit conditions in the Eurozone are easing, said the IMF.

AUD/USD seen at 0.6800 in 3 months - UBS

That the Reserve Bank of Australia left the cash rate unchanged at 2% was no surprise, although the AUD had a small "sympathy" bounce in our opinion, mostly driven by short covering, according to the UBS analyst team. They restate our bearish view on the AUDUSD of 0.68 on a three, six and 12-month tenure.
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WTI firmer, eyes on $50.00

The barrel of West Texas Intermediate remains on the right footing on Wednesday, currently advancing beyond the $49.00 mark per barrel...
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