The market staged a dramatic reversal of the near-term trends in response to the Federal Reserve meeting. In a masterstroke, Yellen dropped the word patience from the Fed's forward guidance and avoided delivering a hawkish signal. The equity markets bounced back. Bond yields fell. The relentless dollar advance stopped in its tracks. It suffered one of the largest setbacks in nearly a year. We recognize that the pace of the dollar's ascent has been usual and unsustainable. We anticipate a period of consolidation, potentially choppy, as short-term participant re-enter the market. The dollar spent the last two sessions ... (full story)