With the Fed indicating there will only be two.. if not just one interest rate rise this year, the king of FIAT land - the USD, fell for a second day, settling -1.2% @ DXY 94.81. Near term outlook threatens the 90 threshold, before resumed upside. The 120s look highly probable.. eventually.
Suffice to add... USD has been tainted by the Fed (whether intentionally or not), and is currently under a great deal of downward pressure as hopes of a series of rate hikes have faded.
Broadly, the Euro and Yen look 'toast', and I find it impossible to believe that the USD won't eventually break back above the DXY 100 threshold, and onward to the 120s.
Market/econ chatter from Schiff
Friday will see consumer sentiment data.
It will be quad-opex, so expect increasingly choppy, and dynamic price action in the late afternoon.
*there are 3 fed officials on the loose. Most notable, the bane of the equity bears - Bullard, due to speak at 3pm.
Goodnight from London