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1 Jan 1970
USD firmer, markets calm
FXStreet (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman, underlines the firmer tone of the greenback.
Key Quotes
"The foreign exchange market is finishing the busy week on a quiet note. This week, the US dollar has recovered against the major currencies, except for the Australian and New Zealand dollars."
"The backing up of US money market rates in response to an increase in the Fed funds forecast by Fed officials (25 bp 2015 and 50 bp in 2016) was the major factor. In addition, Yellen's attempt to clarify what a considerable period is in terms of the gap between when the asset purchases are completed and the first rate hike to around six months also spooked investors and helped lift the dollar."
Key Quotes
"The foreign exchange market is finishing the busy week on a quiet note. This week, the US dollar has recovered against the major currencies, except for the Australian and New Zealand dollars."
"The backing up of US money market rates in response to an increase in the Fed funds forecast by Fed officials (25 bp 2015 and 50 bp in 2016) was the major factor. In addition, Yellen's attempt to clarify what a considerable period is in terms of the gap between when the asset purchases are completed and the first rate hike to around six months also spooked investors and helped lift the dollar."