The majority is anticipating that US policy makers will err on the side of caution in this afternoon’s policy statement. In translation, the impact of the FOMC on the currency market could be rather small as the Fed is not likely to mention a specific timeline for “normalcy” rates. The Fed is expected to finally exit the stage in term of asset purchases – end of QE. More importantly, the language from the statement will be the closely scrutinized as there will be no press conference from Yellen to give further insights. The market will naturally want to know when rates will rise, but with global growth looking ... (full story)