DXY Fails to Break 94.50 Despite the Fed Announcing Taper

The day is finally upon us that the Federal Reserve has announced it decision to taper that begins the slow process of turning off the tap of heavy stimulus infusions into the financial system. Rate hikes will be the next move after the QE program is capped (according to the Fed itself), but it is still some ways off that interest rates will move meaningfully higher.

Perhaps it's that recognition of time and the over-indulgence of fear around what a taper would actually mean that has turned into relief from the Dollar's charge and allowance for the indices to continue their rally.