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Tarullo: Current environment not appropriate for the Fed to raise rates

FXStreet (Córdoba) - Daniel K. Tarullo, member of the Board of Governors of the Federal Reserve, said in an interview with CNBC that the current environment was not appropriate to raise rates. He thinks that tangible evidence of wage and inflation increasing is needed before a making a move.

According to him the economy made a fair amount of progress but momentum is not enormous. He notes that inflation is running below the Fed’s target in a “global disinflationary environment”.

The voting member of the FOMC explained that a premature rate hike could be rose that waiting for a little longer.

EUR/GBP hits 8-month highs and retreats

The euro remains in positive territory against the pound but it moved off daily highs. Earlier EUR/GBP climbed to 0.7492, hitting the highest level since February and currently it was trading at 0.7455/60, up 0.85% for the day.
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AUD/USd bears eye the 1hr 200 SMA and 0.7200 level

AUD/USD is currently trading at 0.7271 with a high of 0.7364 and a low of 0.7253.
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