FOMC’s “Extended Period” May Not Be That Long After All

December 22nd, 2009 • Related • Filed Under • Print Print • A A A




G10 Advancers and Decliners vs USD
EUR 0.37
GBP 0.31
CHF 0.15
JPY 0.02
The USD enjoyed a late rally in yesterday’s US session, after Chicago Fed President Evans revealed his interpretation of the “extended period” term used in recent FOMC minutes – and it was a markedly less dovish interpretation than the market had assumed. The phrase, which refers to the duration of the “exceptionally low” rate environment in the US, has become a central tenet of structural USD…

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