Easy answer to that one
What's the message from the FOMC minutes? The only takeaway from me is that the market has a gun to the Fed's head and doesn't want to hear anything except the sound of the printing press.
That's nothing new.
I really don't see this as any kind of game-changer. The Fed is going to be there if/when it's needed. They're right when they say that forward guidance and/or yield curve control won't have a big impact.
I tend to see this hiccup in markets as some position squaring at one of the quietest times of the year. The Fed will stay accommodative and Congress will stumble towards some kind of stimulus. There's a much greater chance of some genuine kicking and screaming around the lack of funds.
I see this as an opportunity to sell the dollar and buy gold at better levels but at this time of year you have to keep stops tight because August volatility can get ugly
Cable:
