Dollar Drop is a Little Relieft - JP Morgan Says

Anton Pil, global head of fixed income and foreign exchange at JP Morgan in New York, say the dollar sell-off is "a little bit of relief" for currency markets. "With a lot of people having talked about a 6% handle on the Fed funds rate, there's a little relief that the Fed statement was not as hawkish as it could have been," said Pil. He said we could see a resumption of an older trend: dollar weakness. But he warned that markets "need a bit more before we're out of the woods," particularly as the Fed remains data dependent going forward.