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Lockhart Hints The Loudest For September Hike

Locking it in

When the moderates start to change their tune then a shift in policy is coming. Atlanta Federal Reserve President, Dennis Lockhart, last night gave a big hint as to how he would vote at the upcoming September Fed meeting. In an interview with the Wall Street Journal, Lockhart said that “I think there is a high bar right now to not acting, speaking for myself,” and that “It will take a significant deterioration in the economic picture for me to be disinclined to move ahead.”

Lockhart is a bellwether for the Federal Reserve and the wind seems to be in the sails of our call for a rate rise in September. USD has acted positively as a result of these comments with EUR/USD below 1.09 for the first time in a fortnight. GBP/USD is keeping its nose clean this morning, however, nobody wants to be too short the pound as we head into tomorrow’s...