Good Morning ,

Here’s a quick look at today’s economic news and market activity:

• Markets traded cautiously yesterday ahead of the US Feds policy decision.
• The Fed raised rates by 25bps, bringing the federal funds rate to 3.75-4.00%.
• The updated dot plot showed most policymakers expect at least one more rate hike this year.
• Chair Warsh struck a hawkish stance, reiterating the Fed's focus on price stability.
• The hawkish Fed tone and higher US yields supported the dollar.
• EUR/USD fell below $1.15 and GBP/USD traded under $1.34.
• Focus now turns to the Bank of England today, which is expected to leave rates unchanged at 3.75%.

All rates quoted are indicative market rates.