Morning traders, still nothing on the calendar for today except for a speech from Lagarde later that we monitor for our EURCHF shorts, but anyway all the focus is on tomorrow for the FOMC, we can already anticipate that we expect a 75bps hike and not a 100bps, simply because if the FED was to go for a larger hike they would have "leaked" the sentiment to prepare markets as they did a few months ago with the first 75bps hike Else, a 75bps hike is fully priced in so the rate decision itself won't be that much of a market mover, but Powell's words are what the world will be watching and that's where we expect a remarkably hawkish press conference to respond to the recent surprise higher in core CPI