The release of the US Fed’s latest policy minutes showed that most committee members remained cautious about a rate hike in coming months with concerns about how the Greek financial crisis will impact global financial markets and how China’s recent share market plunge will also impact the US economy.
Keep in mind that these minutes were from a meeting prior to the current Greek crisis and were well before the daily stock market plunges of the past few days in China. Many traders are now pushing back their estimates from September to December for when the US Fed will raise its official cash rate and the US Dollar did experience some selling pressure on the back of the minutes.
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