Yesterday's FOMC decision proved to be a non-event. The committee made a couple of adjustments to the statement but the message remained basically the same and there was no hint of a timing of the next rate hike.

The market did what it usually does after high impact releases that change nothing - it ran stops on both sides before returning to pre-release range. Tomorrow's U.S. Q1 Advance GDP will likely provide a better signal as to the direction.

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