MARKET UPDATE 25 – MAY – 17

The FOMC Minutes released this morning prompted the U.S dollar to slip after the Federal Reserve meeting showed policymakers agreed, they should hold off on raising interest rates until they see evidence that a recent economic slowdown was transitory. They are having mixed data, a combination of a continuing improvement in labour markets in April and disappointing inflation data in the same month.
The minutes also highlighted further discussion of future balance sheet policy which aims to reduce its current balance of US$4.5 trillion.
This has resulted in the Fijian dollar strengthening against the U.S. dollar but weakened against the Australian and the New Zealand dollar today.

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