U.S. stocks struggled for direction for most of the day, but managed to stage a strong rally after the Federal Reserve ruled out hiking interest rates in 75 bps increments in the future.

USD/JPY may face a larger pullback over the coming days as the Federal Reserve warns that a “75 basis point increase is not something the committee is actively considering.”

But before buying a bond ETF, take the time to understand a few basics about rates. Before buying a Treasury ETF, it’s important to understand a few basics about rates.

The Federal Reserve his here with the first 50 basis point rate hike since May of 2000 – which was followed a couple months later by the tech bust.

The US Dollar was mixed ahead of the FOMC rate decision as US Services PMI data came in slightly softer than expected.

Bank of England seen raising rates. Trading focus is on vote split and asset sales outlook.

EU Commissioner Ursula von der Leyen presented the 6th round of sanctions against Russia including the highly anticipated ban on Russian oil.

GBP/USD has been under downside pressure as the Fed maintains its aggressive outlook. Attention on the Fed press conference will be key going into the BoE meet tomorrow.