Fed closer to rate hike

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Wednesday, Aug 19 2015

An improving job market edged the U.S. Federal Reserve closer to an interest rate hike at its July meeting even as policymakers continued to express broad concerns about lagging inflation and the weak state of the world economy, according to minutes released on Wednesday.

One Fed policymaker was ready to vote for a rate hike at the July 28-29 meeting, while a group of others "viewed the economic conditions for beginning to increase the target range for the federal funds rate as having been met or were confident that they would be met shortly," according to the minutes.

USD was pushed lower against its major rivals after Minutes were released. Euro is currently being traded around 1.1110 level, Sterling is few points above 1.5680 area, while Aussie is above 0.7350 handle.

More in this category: « US CPI rose less than expected Aussie sideways trading continues »

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