FX Closing Comments

Currency markets were largely unchanged today, in the aftermath of the Fed meeting. The one exception was the British Pound, which is trading on interest rate expectations, with many anticipating one additional hike from the BoE, while most expect the Fed to remain dovish for the remainder of the year. In the UK tomorrow, the CBI orders report is due, while in the U.S. we have the Conference Board's leading indicators report, as well as the Philly Fed survey. The Dollar Index was down 17 ticks today.