Big moves in financial markets as Fed signals December hike possible
In the hours leading up to the FOMC decision, the market grew increasingly confident that Yellen and the Federal Reserve would signal lower rates for longer.
Throughout the day the US dollar slid, gold rallied and stocks hit a session high just before the announcement.
Now the trade has completely reversed. the US dollar is surging and the euro is trading at 1.0926 compared to 1.1070 before the announcement.
Gold dropped to $1162 from $1178.
The S&P 500 is down 2 points after trading +17 ahead of the announcement.
I expect these moves to last. The Fed is showing that it badly wants to make a token rate hike this year. They may relent but not unless the market kicks and screams (once again).
