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Forex Flash: Fed could end QE in 2013 – ANZ

By FXstreet.com,  January 04, 2013, 10:21:00 AM EDT

FXstreet.com (Barcelona) - It has been a roller coaster start to 2013 for Asian currencies - a last minute deal to avoid the fiscal cliff in the US saw Asian currencies off to a strong start on the first trading day of the year. However, "the release of FOMC minutes from their December meeting, which suggested that the Fed might end QE3 sometime in 2013, sparked a generalized USD rally, unwinding some of the early gains in Asian currencies." notes the ANZ Research Team.

"We are not too perturbed by the recent USD strength. Our core views of the USD staying structurally weak and Fed policy remaining easy for an extended period remain. It is also important to note that the move higher in the USD overnight is not a pure risk off move. If the Fed really does think that QE3 is no longer warranted, that means the US economy is on a sustained recovery." they suggest.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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