Risk markets roundtripped on what was a hawkish pause from the Federal Reserve overnight, with no new rate rise for the month but an indication at least 50 pips is on the way. At first Wall Street recoiled but has recovered in late trade with European stocks also lifting.
Meanwhile currency markets saw a similar trajectory with USD falling back before a late rebound almost took back those losses as Euro remains at the mid 1.08 level while the little Aussie dollar kept pushing up towards the 68 cent level but was pulled back in later trade to be just below that level this morning.
Oil prices also oscillated around the FOMC meeting, with Brent crude finishing just below the $74USD per barrel level. Gold remains one of the weaker undollars and again slumped down to the $1940USD per ounce level.
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