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GBP/USD – FOMC encouraged, markets relaxed on UK Autumn Statement
The two big events of the last 24 hours haven’t really packed the punch they occasionally can which perhaps explains why we aren’t seeing big moves today. The FOMC minutes were arguably slightly on the dovish side, with the committee now seemingly of the view that no further hikes will be needed, with the language instead focusing on the need to proceed carefully. While we probably will still hear more of the higher for longer mantra from policymakers in public ahead of the December meeting, it’s clear now that the FOMC is pleased with the recent progress it’s seen and as long as it doesn’t go into reverse, ... (full story)