The Federal Reserve has stuck to its previously stated pace with a 25bp rate hike that lifted the benchmark range to 4.50-4.75 percent. The in-line rate change generated volatility for the Dollar and S&P 500 emini futures, but markets were seeking more clarity on the forecast.

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The FTSE 100 and Dax 40 have remained rangebound ahead of ECB and BoE. Despite mixed earnings and unrest over wages in the UK, European equities remain resilient.

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The Fed’s rate setting committee has the power to quell impressive US equity gains and prompt a resurgence in the US dollar should it continue to stress inflation risks.

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GBP/USD rangebound as the medium-term direction remains uncertain. FOMC and BoE to provide clarity moving forward.

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Gold prices have been a one-way bet for three months, posting gains on a softer Dollar and hopes that the Fed is losing its enthusiasm for interest rate hikes

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