The initial reaction has been to buy dollars, but we've just come back to where we were half an hour before the statement where the dollar was quite weak.
More Quotes from Michael Jansen:
There is a slowing growth environment in Australia, evident predominantly in the housing market. There is also continued narrowing in the interest rate differential.Michael Jansen
The key point is that the Fed has reiterated that further policy firming may be needed, although they do seem to be playing down some of the risks. The overall impact on the dollar is broadly neutral.
Michael Jansen
The market is getting all lathered-up over the prospects of the Bank of Japan rate tightening. This is without a doubt yen positive.
Michael Jansen
We're pretty friendly towards the Canadian dollar considering the central bank will continue lifting rates.
Michael Jansen
Traders are coming in every morning with a bias to sell dollars. The market expects that irrespective of the data, the Fed is going to pause after its next meeting.
Michael Jansen
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