The Fed's statement was simply 'in-line', but that is in-line with a distinctive hawkish view (calling for 2 rate hikes in 2015) from its previous meeting. For most intents and purposes, that is hawkish and thereby Dollar bullish
). Yet, the market remains purposefully aloof. Fed Funds futures
are showing liftoff is not 100% expected until the March 2016 meeting. This has the feel of complacency rather than a genuinely critical view of the Fed, and that could mean an inevitable adjustment - further Dollar rally, equity tumble - just when the music forces them to stop.