CHF/JPY: Holding Down The Middle

Yesterday's Fed meeting was a bit anti-climatic with the fed funds rate rising another 1/4 point to 5% and the Fed providing a follow-up statement that struck a sufficiently bland tone. The commentary had only a few alterations from the previous month, though one additional word, "yet", was added to the phrase "some further firming may yet be needed." The implication seems to be that the end of rate rises may be soon, but not necessarily next month. Read More....