- June FOMC: Fed far away from scaling back; EUR/USD likely to rise to 1.15 n-term - Danske
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June FOMC: Fed far away from scaling back; EUR/USD likely to rise to 1.15 n-term - Danske
eFXdata reports that Danske Research discusses its reaction to June FOMC policy statement.
'The Fed is far away from considering scaling back its support to the economy. The Fed maintained its forward guidance and signalled the target range will remain at 0.00-0.25% through 2022. The Fed said it will continue to buy US Treasury securities and mortgage-backed securities “at least at current pace”, i.e. around USD80bn US Treasury securities and USD45bn mortgage-backed securities per month. The Fed is seriously considering implementing yield curve control, i.e. setting a ceiling for how high medium-term interest rates can go," Danske notes.
"We see EUR/USD rising to 1.15 near-term. SEK and NOK should also be able to strengthen further in the current environment," Danske adds.
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