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FOMC minutes reveal a slightly more hawkish Fed-EUR/USD slips below 1.09

The minutes from the December Fed policy meeting held by the FOMC (Federal Open Market Committee) have just been released to the markets. The minutes reveal that several members said rates could stay at a peak for longer than anticipated. Also many members anticipated a lower Fed funds rate by the end of 2024. The take away from all the detail here is perhaps not quite as dovish as some in the markets might have expected, given what Jerome Powell had said after the meeting, when addressing the press. The reaction to all this has seen stocks fall back and the dollar remain on its highs and actually push a little higher. Bond yields are a bit higher too. The EUR/USD has traded below the 1.09 handle again following this news, as the markets take this as a more hawkish outlook than was perhaps previously envisaged. The EUR/USD is just now trading at 1.0894
 

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