The Fed has leaned somewhat unexpectedly dovish in its monetary policy in March.
The FOMC has slightly cut GDP and PCE forecasts but significantly dropped its expectations of rate hikes in 2016 from a potential four hikes to just 2.
This has seen:
EUR/USD jumping 100 pips and ould now retest the post-ECB high at $1.1217
Gold jump through the resistance at $1247.50 to open $1260.60
USD/JPY fall 100 pips to test 112.60, but still remains rangebound, next support at 112.15
Let’s see if the Yellen presser will cause these dovish trades any cause to turn again.