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September FOMC minutes seen as outdated, policy still expected restrictive

TD Securities expects the minutes to reflect disagreement on how much further tightening is needed, but with a broad view that rates should stay more restrictive.

Reported · Written up by our desk · Central Banks

TD Securities analysts expect the upcoming September FOMC minutes to offer limited fresh guidance, saying the record is largely outdated due to economic updates after the meeting, including subsequent employment and PCE data, FXStreet reports.

The minutes are expected to capture differing views among policymakers on how much more tightening may be needed, while a broader consensus points to keeping policy more restrictive.

In FX trading, the US dollar has backed off from 17-month highs as traders take profits ahead of the upcoming US Nonfarm Payrolls report, FXStreet adds.

FXStreet also notes AUD drew support from renewed expectations for a November interest rate hike, while USD/JPY struggled to find new momentum near 158.00.

Latest closeUSD/JPY 157.40 ▲0.0%

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