The USD is stronger across the board, helped by a steady-as-she-goes FOMC Statement yesterday. The Bloomberg Dollar Spot Index is 0.6% stronger today. Among the biggest losers is the AUD, with is off by nearly 2.0%. The FOMC Statement had something for everyone, but overall, it confirmed to us the notion that the Fed is on track for rate increases in 2015. Much was made of a new reference to the Fed keeping its eye on “international developments” (among a wide range of information) when making its policy assessment. Our view is that it is naïve for anyone to think that the Fed isn’t mindful of international developments every time it makes a policy assessmen
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