Euro-dollar dropped about 40 points in the aftermath of the release but recovered some of the loss, reflecting the market's uncertainty about the veracity of the figures.

The residual impact from the Fed is definitely positive for the dollar. The Fed message is clearly all systems go for 4.25 percent and maybe even 4.5 percent, which will increase the dollar's interest rate differential with other currencies.

The residual impact from the Fed is definitely positive for the dollar. The Fed message is clearly all systems go for 4.25 percent and maybe even 4.5 percent, which will increase the dollar's interest rate differential with other currencies,

As oil prices go below $60 per barrel, it should translate to yen strength. I think we are far closer to a top in dollar/yen and it is reasonable to expect a turn in the pair.

The ECB is trying to walk a very fine line between its mandate to control the budding inflationary pressures in the euro-zone and its desire to nurture the nascent economic recovery in the region where the unemployment rates stands at nearly 10%.

The euro has been the victim of an ever widening interest-rate differential to the dollar, a dynamic that has hurt the currency over the past six months as the carry spread now stands at 175 basis points against it.