Fed's Musalem: Will wait to see data before deciding on December meeting
Source Fxstreet
St. Louis Federal Reserve President Alberto Musalem said on Wednesday that it might be possible to pause rate cuts at the upcoming meetings, and added that they are keeping all options for the December meeting.
Key takeaways
"Will wait to see data before deciding on December Fed meeting."
"Restrictive monetary policy will continue to cool inflation."
"Chances of labor market trouble are low right now."
"The job isn't done to bring inflation back to target."
"Monetary policy is moderately restrictive."
"Uncertainty about monetary policy, election, had weighed on the economy."
Market reaction
The US Dollar Index edges higher following these comments and was last seen rising 0.32% on the day at 106.68.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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The USD/JPY pair is seen consolidating in a narrow band around mid-159.00s during the Asian session on Tuesday as traders opt to wait for the crucial Bank of Japan (BoJ) before placing fresh directional bets.
Gold price (XAU/USD) holds steady near $4,600 during the early Asian session on Wednesday. The precious metal steadies as traders await a key Federal Reserve (Fed) interest rate decision later on Wednesday.
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