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23 Feb 2015
USD firmer ahead of Yellen – TDS
FXStreet (Barcelona) - Shaun Osborne, Chief FX Strategist at TD Securities, mentions that Yellen’s testimony is expected to be a little hawkish relative to expectations, with USD trading firmer at the start of the week, already discounting the expected tone of the speech.
Key Quotes
“We expect the Fed messaging to remain relatively upbeat; market expectations may be coloured by the release of the “low for longer” minutes from the January FOMC last week but it is important to remember that after the January policy meeting took place, the January NFP report delivered some solid-looking data.”
“We think Yellen’s comments may appear a little hawkish relative to market expectations and we continue to view the Fed as moving towards rate lift off later this year (Q3).”
“The USD is trading firmly at the start of the week and US 10y yields are nudging close to recent highs, perhaps already discounting the expected tone of the comments.”
Key Quotes
“We expect the Fed messaging to remain relatively upbeat; market expectations may be coloured by the release of the “low for longer” minutes from the January FOMC last week but it is important to remember that after the January policy meeting took place, the January NFP report delivered some solid-looking data.”
“We think Yellen’s comments may appear a little hawkish relative to market expectations and we continue to view the Fed as moving towards rate lift off later this year (Q3).”
“The USD is trading firmly at the start of the week and US 10y yields are nudging close to recent highs, perhaps already discounting the expected tone of the comments.”