Published: 2025-12-31T08:08:08.000Z
EUR/USD, USD/JPY flows: USD Consolidating in Europe
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European trading is seeing the USD move sideways, with the FOMC minutes having failed to provide direction.
The majority of FOMC members still appear to favour lower rates, as shown in the dots. However, a vocal minority wants to wait and see. Combined with Powell Q/A guidance on Dec 10 is leaving the money market not discounting a cut until June. Data will once again be key for Fed views and the USD into 2026, with the standout being Jan 9 December employment report.