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Fed: Pricing for a Sep move remains below 30% - Westpac

Sean Callow, Research Analyst at Westpac, suggests that the July payrolls provided a much-needed reprieve for USD, but in a year of even greater NFP volatility than usual, it isn’t a game-changer for the Fed.

Key Quotes

“Pricing for a Sep move remains below 30%, with Governor Powell’s caution fitting the market impression that the FOMC remains in no hurry to act.

Risks on Dollar Index towards 93 ahead of Yellen speech at Jackson Hole but probably no further so long as the Fed continues to ponder higher rates. Record highs on the S&P 500 add to their impression in June that the impact of the Brexit shock on the US was short-lived.”

USD/CHF fades a tepid recovery bounce, neutral at 0.9750

Having posted a daily low at 0.9734, the USD/CHF pair bounced-off session through level and jumped above 50-day SMA to 0.9765 level before retracing b
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RBNZ: Governor Wheeler did not seriously considered 50bp move - BBH

Research Team at BBH, notes that Reserve Bank of New Zealand delivered a 25 bp cut in the cash rate, and the New Zealand dollar rallied. Key Quotes
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