The FOMC minutes from the December meeting will be released at the top of the hour.
Earlier today, the Fed's Kashkari said rate hikes were coming 'at least' at the next few meetings and that briefly weighed on risk appetite and stemmed dollar losses.
We could get a repeat if the Minutes deliver a similar tone. I think that's a good bet because Powell was so hawkish after the December Fed meeting. Right now, the market is pricing in a 4.97% terminal rate, which is not too far off the 5-5.25% range from the Fed and much more hangs on Friday's non-farm payrolls than the Minutes but there's a chance for some volatility here.
