{video} It was an action-packed week for FX traders, with five central bank meetings injecting volatility into the market. In a surprising move, the Federal Reserve continued to signal three rate cuts for this year, even though its new economic forecasts pointed to slightly hotter inflation and faster growth. The overarching message was that the Fed will probably start cutting rates this summer, despite recent signs that inflation might be more persistent. In other words, the Fed seems willing to let inflation run hot for a while longer, to minimize the risk of a recession. Investors reacted by selling the dollar, ... (full story)