Yesterday, the FOMC minutes indicated that the U.S. was far from hiking interest rates. They also showed that the Fed was a long way from implementing a tight monetary policy or reducing its asset buyback program. Several Fed members even tried to increase its asset purchasing power. This is definitely a sign that raising rates at this time is not a priority.

The U.S. Dollar rose overnight after Fed Chairman Bernanke said the central bank is ready to tighten monetary policy once the economy has “improve sufficiently.”

Bernanke also added “We will need to tighten monetary policy to prevent the emergence of an inflation problem down the road.”