USD has traded relatively flat following the slew of Fed speakers in the past 8hrs - despite Dec Fed Funds steepening aggressively from <50% implied probability to 56% probability of a hike. Perhaps more interestingly though, is that a fed hike has never happened in the past unless fed funds have priced 50% and recently we have traded below this figure which makes...
Fed Lockhart Speech Highlights:
Lockhart: Tepid Business Investment Plans Raise Questions About Growth
Lockhart: Uncertainty A Real Factor For Economy Right Now
Lockhart: Fed Rate Policy Will Be 'Cautious And Gradual'
Lockhart: 'No Gun To Our Head' To Raise Rates Quickly
Lockhart: Two Rate Rises Remain Possible, One Likely This Year
Fed's Lockhart: There's...