Dollar drops on dovish talk yet even being dovish he paints a hawkish picture
USDJPY has been knocked down to near 119.00 as uber hawk Dudley drops some dovish comments. EURUSD balloons up to 1.1440
Ok, he's put further doubt into a September hike but the real focus is the line that he hopes that rates can go up this year
It's a point I've made time and time again. Forget what you think about when rates should rise. Forget about what the US economy is or could be doing. When you have voting members (a permanent voting member) like Dovish Dudley saying that he wants rates up that is all the indication we need
When you have virtually all the Fed looking for hikes, rates are only going one way. The timing may still be the sticking point but they all want rates up
Many people think they are waiting for the economy to improve. I think they are already there and are holding back on what they could have done months ago
If September's out the window then...
