BSP Sees Philippine Inflation Easing, Keeps Policy Options Open 
Singapore Central Bank’s Exchange Rate Policy Explained: Why MAS Uses the S$NEER Instead of Interest Rates 
Fed Holds Interest Rates Steady as Kevin Warsh Says Rising Treasury Yields Tighten Financial Conditions 
BOJ Minutes Signal More Rate Hikes as Inflation Risks Grow 
Eurozone Bond Yields Fall as Oil Slump Eases Inflation Fears Ahead of Central Bank Meetings 
RBA Signals More Rate Hikes Possible as Australia Battles Stubborn Inflation 
Chile Central Bank Holds Interest Rate at 4.5% as Inflation and Global Risks Persist 
Japan Services Producer Prices Rise 3.2% in June, Supporting BOJ Rate Hike Expectations 
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The USD has appreciated on a trade weighted basis in January so far; however, the appreciation in USD is mainly due to weakness in other currencies rather than specific factors that causes the USD to appreciate. The greenback appreciated on the back of declining commodity prices and rising risk aversion sentiments affecting EM currencies. The markets expect only one rate hike for this year as the global financial turmoil continues to prevail in the market.
Markets will be focused upon how FOMC evaluates the current market developments and what conclusions will be drawn for the March meet. This might have a limited effect on the dollar as markets expect a dovish stance from FOMC announcements. The FOMC's stance today on the possibility of a rate hike in March will provide guidance on interpreting the Fed's future developments
