Minor changes but big market moves
I think there is a lot of over-analysis going on here. The market (evidently) wanted a hawkish surprise. Instead, there are a few tiny tweaks.
Rather than reading too much into the tweaks and what is there, I think the market is looking at what isn't there -- which is any kind of real signal about hiking or running off the balance sheet asap.
One reason I think that is because the market moves came so quickly. There just wasn't the time to do the kind of analysis to justify selling USD.
Decide for yourself, here is the redline for the two portions that changed:
...
