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The USD has traded mixed since the December rate rise, weakening against safe-haven currencies such as the euro and yen, while strengthening against commodity currencies and the pound.
Rate hikes and unemployment
On January 6, the minutes were released from the December meeting and showed that some members saw liftoff as a close call and many were quite concerned about low inflation. Most Fed members expect between 2 and 4 interest rate hikes this year, however given recent data releases, such as weakness in the Retail Sales Control Group for December, released January 15, the market is now pricing approximately 1 ... (read more)