Bell FX: Fed minutes indicate a likely tapering in coming months, recording extensive discussion about the medium term outlook for monetary policy, including...

Bell FX: Fed minutes indicate a likely tapering in coming months, recording extensive discussion about the medium term outlook for monetary policy, including the Fed's communication of its policy outlook. Still of course data dependent, but tapering expectations look only to have been delayed somewhat, with perhaps the Fed only one or two good payroll numbers away from beginning to reduce its asset purchases. In Australia, the Government's proposal to lift the debt ceiling continued with the Opposition parties agreeing to lift the ceiling to AUD400bn in the short term. This was after Treasury Secretary Martin Parkinson confirmed that Treasury had advised the Government that lifting the debt ceiling above AUD430bn would be prudent as peak debt will rise above this level during the four year forward estimates period and a buffer of AUD40-60bn is necessary. Today's Forecast Range USD: 0.9290 - 0.9365