The USD was choppy in the wake of FOMC. The...>

FOREX: The USD was choppy in the wake of FOMC. The Fed stood pat as expected &

noted that inflation has moved close to 2.0%, which represented an upgrade in

its view, alongside the introduction of the phrase that "inflation is expected

to run near to the Committee's symmetric 2.0% objective over the medium term."

On the growth front the Fed dropped the language that previously noted that "the

economic outlook has strengthened in recent months."

- The USD ultimately went out near best levels against the majors, with the DXY

closing just off fresh YtD highs.

- USDJPY took out the reported 110.00 barrier, but trades back at 109.80.

- Having closed below its 200-DMA on Tuesday, EURUSD continued its downward

trend printing lows of 1.1938, last 1.1955. EZ GDP met exp.

- Cable squeezed to highs on the back of the construction PMI, that were

extended on in the late London morning, but as the stronger USD theme played out

cable dipped under 1.3600, last 1.3575.

- EMFX struggled, particularly BRL, ZAR & PLN.

- The docket is limited in Asia with Japan observing a holiday.