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yield curve flattened and Fed funds futures markets moved to price a 50% chance of a hike in October and to fully price a 25 basis point rate hike in December after his comments. "Powell didn't give any specifics about the start of the taper, he said there was broad agreement in the end of taper, one which 'concludes around the middle of next year,'" said John Briggs, strategist at NatWest Markets. "This is in our view more important than when the taper starts, as it starts the clock on when the next hike may occur." As the dollar retreated slightly in Asia, its index slipped from a one-month high of 93.526 to 93.369 as traders took profit and figured there were a few caveats in Powell's remarks.