As expected, today's FOMC meeting resulted in a 25-basis point hike in interest rates. The market´s response was subdued; this hike had been priced in for some time.

All the major currencies were up against the US dollar following the latest CPI release. But the underlying data may wrongfoot the market in the weeks ahead.

Fears for the US economy continue to grow with job openings falling and a less-than-expected increase in private employment. But the USD has remained resilient.

Chris from the podcast Let's Talk Forex with Alison and Chris shares his latest analysis of the effects of the weak US jobs data ahead of Friday's NFP report.

Following the market chaos over the last two weeks, a relative calm has beset the markets. But the outlook for the USD remains uncertain as markets focus on monetary policy divergence in Europe and the US.