Dollar drilled as Fed fallout reverses........>

FOREX: Dollar drilled as Fed fallout reverses

-Despite a knee-jerk rally in the greenback following the Fed's

not-quite-so-dovish rate hike yesterday, the dollar index has entirely reversed

the post-Powell move, touching the lowest levels since late November ahead of

the NY crossover. Broad USD selling was evident from the off as Europe picked

opportunities to sell any greenback strength, with EUR/USD only capped by the

$1.1486 100-dma at writing.

-Equities, however, have only extended the post-Fed move, with European indices

off by well over 1% apiece and Japan's Nikkei 225 hitting September 2017 lows.

This has lent support to haven FX, with JPY and CHF close to the top of the

leaderboard.

-SEK gains against all others (dragging NOK with it) as the Riksbank hiked

interest rates for the first time in seven years, prompting EUR/SEK bears to

target Monday's lows at Sek10.24.

-BoE rate decision (exp. unchanged), weekly US jobless claims and Japanese CPI

take focus from here.