USD strength will unlikely to derail a start to Fed's tightening cycle: RBC

Quotes from RBC Capital Markets:

-Some saw this week's FOMC minutes as a sign of the Fed wading into a real or imagined global currency war.

-We take a systematic look at Fed communications and find that the opposite seems to be true. Taking a headline from this week's minutes out of context actually gives a very misleading impression of recent rhetoric.

-The bottom line is that US is really best-placed to shoulder a stronger currency and US policy-makers appear to agree. We do not think USD strength will derail a start to the Fed's tightening cycle, which in turn would support further USD strength in 2015.