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Fed's Rate Check Could Foreshadow FX Intervention
- The New York Fed's rate check on yen trading signaled possible FX intervention, an uncommon step.
- Such checks historically precede direct intervention and may be coordinated with the BOJ for effectiveness.
Fed Chair Odds Are Volatile And Possibly Noisy
- Betting markets shifted on Fed chair odds with Rick Reeder gaining traction despite uncertainty about inside info.
- Observers warned surges in odds may reflect noise rather than presidential intent.
Watch Fed Wording On Labor Risks
- Watch the Fed statement for whether downside labor-market risks are removed.
- If the sentence stays, expect dovish interpretation and potential for rate cuts; if removed, expect a hawkish read.