Tuesday, 12 Jan 2021 07:30 PM MYT
Small bottles labelled with a ‘VaccineCovid-19 sticker and a medical syringe are seen in this illustration taken April 10, 2020. Reuters pic
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WASHINGTON, Jan 12 One US Federal Reserve official says there is now a “clearer focus” about the economy’s path forward and a horizon for a fuller recovery. Another says the pandemic’s “endgame” is here. A third predicts 2021 will prove “impressive.”
After a catastrophic spell when economic conditions were so confounded by the coronavirus that the Fed stopped making projections altogether, US central bankers now like what they see.
Jan 8, 2021 17:47 GMTFXStreet News
The Dollar Index continues to flirt with the 90.00 level.
USD dynamics have shifted since the Democrats took control of Congress after winning both of Tuesday’s Senate elections in Georgia.
DXY recently broke above a two-month downtrend that started in early November.
The Dollar Index, a trade-weighted basket of major USD exchange rates (EUR/USD makes up about 50% of the index) and the market’s preferred gauge of USD sentiment, continues to flirt with the 90.00 level; the index saw momentary weakness heading into the final 4pm London Fix of the week, briefly dropping back below the psychologically important number but continues to trade close to highs of the day.
US Fed says bond-buying changes hinge on qualitative call on economy business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Fed officials all backed purchasing pace
Bloomberg
US Federal Reserve officials unanimously backed holding the pace of asset purchases steady when they met last month, with some open to “future adjustments” if needed, meeting minutes published on Wednesday showed.
“All participants judged that it would be appropriate to continue those purchases at least at the current pace, and nearly all favored maintaining the current composition of purchases,” the minutes of the Dec. 15 and 16 meeting said. “A couple of participants indicated that they were open to weighting purchases of [US Department of the] Treasury securities toward longer maturities.”
The Federal Open Market Committee held interest rates near zero and strengthened its commitment to bond buying at the meeting, pledging to maintain a US$120 billion monthly pace of purchases until there is “substantial further progress” toward its employment and inflation goals.
Fed says changes to bond-buying hinge on qualitative call on economy reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.