It's turning out to be a wild week in markets as the post-Fed reaction has been anything but straightforward. After the BOJ stood pat earlier today, Japanese officials have hit the panic button as they intervened to buy up the yen against the dollar for the first time since June 1998.

That is seeing some negative spillovers for the dollar after having seen USD/JPY fall from 145.80 to a low of 140.66 moments ago. The pair is now back up to 141.55 in highly volatile trading at the moment.

EUR/USD is now up 0.5% to 0.9885 while GBP/USD is up 0.5% to 1.1330 on the day. Both the euro and pound looked set for sharper declines against the greenback earlier but have salvaged some pride for the time being. The latter remains a focus point with the BOE coming up as noted here.

Meanwhile, USD/CHF remains up 0.8% after the SNB policy decision but has fallen from a high of 0.9800 to 0.9470 at the moment. The commodity currencies are also slightly higher against the dollar with risk sentiment picking up after a stuttering start earlier today. USD/CAD is down 0.2% to 1.3430 while AUD/USD is up 0.4% to 0.6655 currently.