Pimco’s El-Erian: Fed unlikely to raise rates this year

Source: www.forexlive.com

Of course, he’s talking his book, but more than likely he has it right, saying it is unlikely the Fed will hike rates this year. The market got a bit excited earlier this week at the notion that a hike could come before year-end but those hopes have moderated. Further, El-Erian says the dollar could be embarking on a long-term multi-year erosion of its international standing. Sounds like they are limit-long bunds as well! EUR/USD trades at NY session highs of 1.4078 after the comments.


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