Usually Wednesday afternoons when the Federal Open Market Committee (FOMC) releases the minutes from their meetings, we expect resulting volatility and brace ourselves for volatility in response to the release.
This week, however, we were taken by surprise as we saw increased volatility prematurely as the minutes from the Federal Reserve meeting in July were leaked in a Bloomberg headline prior to the official release.
Then, as the FOMC minutes clarified the misleading Bloomberg headline, the USD rally faded as the FOMC announced a more subtle attitude to raising interest rates.
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