FOMC

fed statement opaque( purposefully)  no clear hint a June hike but they did dropped reference to “global economic and Financial Developments  continue to pose risks” They did say that they will still monitor them. This was the reason holding the Fed back from Rate hikes.So if it is removed then it should be clear sailing towards a rate hike. No  chance  fed offset  this by Saying US economic activity has slowed  recently and inflation  has continued to run below feds target.This in the face of  2016 highs in oil and Run up in base metals.

So, Out of the  fed no strong signal of June hike( probabilities up2%) so perceived lower for longer = Risk on  and weak dollar

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