Fed Decisions Could Have Less Impact on Dollar Under Warsh
Dow Jones09-15 21:49
1349 GMT - Federal Reserve meetings could have less impact on the dollar under Chairman Kevin Warsh due to his rejection of explicit forward guidance, Commerzbank analysts say in a note. Instead, data are likely to become more influential in determining the dollar's direction as they provide clues about monetary policy, they say. A lack of information about the future policy path, however, doesn't mean Fed decisions will have no effect on the dollar. "The focus on meeting days will simply shift away from the press conference and towards the statement, voting patterns, and other signals." The Fed announces its next decision on Wednesday. The DXY dollar index rises 0.2% to 99.562.
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