Quotes from Danske Bank:
-In the global FX markets, EUR/USD moved sharply lower yesterday initially triggered by some hawkish comments from Fed's James Bullard suggesting that the wording 'patient' should be taken out of the FOMC statement in March to provide optionality for the committee.
-The USD rally then continued, supported by a series of strong US figures where the higher than expected print in core inflation in particular suggests that the inflation outlook is now moving in a direction where it should not in itself become an obstacle to the Fed to start normalising policy.
-Thus "patient" could be removed from the Fed statement soon and while Yellen has stressed that is only a necessary, but not sufficient, condition for hikes to arrive, we are on track for another round of USD strength ahead of the summer.


Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 



