• "I don't know when Fed will hike rates"

  • lift-off will signal regime shift

  • markets should anticipate some impact

  • sees lift-off effects in capital flows, fx rates, assets

  • emerging economies better equipped for lift-off

"Lift-off" getting a bit of over use in Dudley's text of speech in Zurich

EURUSD getting some lift-off through 1.1200 as Dudley fails to assure that rates are going up any time soon