Some quick analysis
Some highlights from Westpac’s take on the FOMC meeting
– Fed hike expectations for July 27 fell to just 6% in the wake of today’s meeting, down from 16% yesterday. A +25bp Fed hike has been pushed back by another couple months, a full +25bp hike not fully discounted until Oct/Nov 2017
After the initial struggles, the US dollar is now mostly higher compared to where it was before the decision. I think this reflects flows more than how the market interpreted the Fed.