By Marc Chandler of BBH FX StrategyNEW YORK ( TheStreet)-On the heels of the healthy March jobs report and new cyclical highs for the manufacturing and service sector ISM surveys, the market moved to fully discount a 25 bp rate hike at the November Federal Open Market Committee (FOMC) meeting. This was evident in the Fed funds futures strip and the OIS/Fed funds rate. The market has backed off slightly today.
Dollar/Yen Sensitive to Interest Rate Movement
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