The FOMC statement is "completely anodyne" from the U.S. point of view, says Citi's Steven Englander, but as far as emerging markets go it's "hasta la vista, baby." He notes the economic assessment was a hawkish surprise, with economic growth described as having "picked up" rather than "expanding at a moderate pace ... Look to the yen, Swiss franc, and euro to do well, [and] commodity currencies and emerging markets to do poorly."
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TD Securities' Millan Mulraine also notes the "apparent absence of any concern about the recent turmoil in emerging markets."
Earlier FOMC coverage