- As expected the Fed raised the funds rate...>

FOREX: - As expected the Fed raised the funds rate to 1.5-1.75% on 8-0 vote. The

dots suggested 2 more hikes in 2018 (3 in total) and 3 in 2019. The dots also

suggested the 2018 dots were only 1 away from raising to four hikes.

- A new line added to the statement that said 'the economic outlook has

strengthened in recent months' showed the aggressive Fed are signaling

confidence in a strengthening economy. Usd/Jpy initially touched react lows of

Y106.03, spiked to Y106.52 before fading.

- Fed Chair Powell in the press conference that followed said he expects the job

market to remain strong and rate hikes is a step to moderating Fed policy.

Usd/Jpy later gave back gains to hold Y106.10/15. 

- As risk appetite returned amid buoyant equities, yen crosses initially

witnessed strong gains and were seen to underpin Eur/Usd & Gbp/Usd. The pairs

later squeezed to highs of $1.2340/$1.4145 respectively.

- Commodity based ccy pairs also received a welcome relief, Aud/Usd touched

recovery highs of $0.7780, NZD moved back above the 200-dma to NZ$0.7239,

Usd/Cad staged impressive gains to C$1.2897.