Flash: A less dovish Fed?

FXstreet.com (London) - Emmanuel Ng, strategist at OCBC said, overall, by excluding the reference to tighter financial conditions, the market’s verdict seems to be one of a less dovish Fed.

Key Quotes:

“However, we note that the Fed’s previous concern may have primarily stemmed from the fact that tighter financial conditions were perhaps running ahead of macro fundamentals”.

“With September delay in the taper, financial conditions may have indeed loosened since the last FOMC but it does not address the Fed’s prognosis of the economy”.