After having been so strong in recent weeks, there has been a little respite from the dollar strength that has formed in the wake of the Federal Reserve policy announcement. However, this move is unlikely to be a game changer. In its statement last night, the FOMC noted that inflation was close to its 2% target. In a dovish tilt though, it also said that moves around the inflation target could be symmetrical, suggesting a tolerance to allow inflation to run a touch higher than target. This suggests that there may not be a clamour for a fourth hike this year (three are currently priced in). The data surrounding ... (full story)