We had an extremely bad current account deficit number this morning.
A lot of us are looking at a move close to parity over the next few months. There's no indication that this move is done quite yet.
It's extremely bad and this is bearish for the U.S. dollar. This will definitely shift expectations more for a 4 percent Fed funds rate as the last hike we'll see as opposed to 4.25 percent.
Trade data is a little better ... but I think the dollar rally should be limited as the prospects for the trade deficit still aren't very good.
We're not that anxious in terms of punishing the dollar ahead of the meeting.
It's a miraculous result, an unhoped-for success.
All things are cheap to the saving, dear to the wasteful
(January 17, 1706 - April 17, 1790)
For fools rush in where angels fear to tread