U.S Federal Reserve officials insist that how economic data evolves, rather than the date on the calendar, will determine the outlook for interest rates. They are nevertheless offering various views on the probable timing of the first increase since 2006.
The Fed’s pledge that interest rates will stay low for a “considerable time” Vice Chairman Stanley Fischer said today. New York Fed President William Dudley added this week that forecasts for the rate increase in mid-2015 as “reasonable.”
The lack of clarity swung traders clear of over-optimism on the U.S dollar as they continued to position their accounts for other safer haven bets, which drove the Yen to a 4 day high agains the dollar, and also kept demand for gold incoming.