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‘Great job’ by J.Yellen – Fed’s Bullard

FXStreet (Edinburgh) - St. Louis Fed President James Bullard remains optimistic about a rate hike by the Federal Reserve at its next meeting in December. He also argued that market-based measures are pointing to higher rates while conditions for holding a rate hike have somewhat subsided. Furthermore, he stressed the Fed has ‘unanimous’ support for a gradual increase of rates.

He added that the labour market remains ‘very healthy’, with the unemployment rate gyrating around long-term potential.

Bullard sees inflation figures returning to the 2% target if oil prices stabilize, although occasional drops of energy prices could have a temporary effect on consumer prices.

USD/JPY clings to NFP-gains just below 123.00

USD/JPY rallied more than 100 pips and reached a peak of 123.07 following news the US economy added more jobs than expected in October, which boosted expectations of a rate hike by the Fed in December.
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AUD/USD: trading below 2-month base, targeting 0.6940

AUD/USD is currently trading at 0.7045 with a high of 0.7170 and a low of 0.7042.
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