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FXstreet.com (Barcelona) - Back to the present day and taking a closer look at the FOMC minutes where the Fed noted that several members "thought that it would probably be appropriate to slow or stop (asset) purchases well before the end of 2013, citing concerns about financial stability".

"While the statement appeared to surprise the market, who were expecting an accommodative Fed well into medium-term, Chairman Bernanke had himself hinted at the December press conference that asset purchases would end well before the Fed contemplated an increase in rates." notes Macro Strategy Analyst J. Reid and C. Tan at Deutsche Bank. Nevertheless, the release of the minutes led to a 7.5bp sell-off in 10 UST yields (1.912%), which breached the 1.600% to 1.800% trading range, which has held since August.

The move also brings the 10yr yield to its highest levels since early May 2012. Unsurprisingly, the Dollar Index gained ground on the day (+0.67%), while gold (-1.36%) and silver (-2.77%) closed weaker.

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