If you assume that the markets are effectively pricing in 2.75 percent rates by the end of the third quarter and have been doing that really since the end of last year, there is nothing that they are hearing from ECB members is really altering that perception.
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A batch of downbeat US economic data underpinned some market doubt over the Fed's inclination towards higher interest rates.Simon Derrick
Bush will continue to keep the pressure up but China isn't going to bow to political pressure. People are paying attention to this, but it's not moving the currency markets and China's unlikely to move again anytime soon.
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U.S. economic growth is looking very robust and we shouldn't be assuming the Fed is close to the peak in interest rates yet. The dollar can push higher.
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The big support that Fed rate increases had been giving the dollar is starting to wane and the minutes made that clear.
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The key thing that's going on is about interest rates. It's still an interest-rate trade.
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Even a hint that the Bank of Japan may be getting near to ending its quantitative easing, and raising rates, is going to lead to large moves in the yen. People have been so positioned for it to go down.
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Based on Topics: Sense & Perception QuotesBased on Keywords: ecb
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