Fed Meeting Minutes accelerate USD decline

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Source: Dukascopy Bank SA




The publication of the Federal Reserve Federal Open Markets Committee Meeting Minutes at 18:00 GMT on Wednesday added more energy to the ongoing decline of the US Dollar. The minutes revealed new information about how the prior Federal Reserve rate decision was made and what some members of the committee spoke about the future.

Main points taken by the markets out of the protocol are: 

'Vast Majority' of Fed Officials Saw September Cut As Likely Appropriate

'Several' Officials Saw a Case For Reducing Rates in July 30-31 Meeting 

'Almost All' Fed Officials Wanted More Inflation Data Before Cutting Rates 

'Some' Officials Noted Risk of 'More Serious Deterioration' in Labor Market

In general, they reveal that the view that the Fed will cut interest rates in September and later on throughout the year has a basis, as a part of the officials wanted to even cut in July.
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