Last January, the US Federal Reserve left its key rate on hold at 2.5 per cent and announced it was pausing its rate-hiking cycle. This was widely expected by financial markets, and did not result in significant US dollar weakness.
However, the minutes of the Fed’s January meeting (released in late February) revealed that the Fed will finish selling the bonds it originally bought as part of its quantitative easing programme by the end of 2019....
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