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Koefoed: Fed loses patience but USD will find renewed strength

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As widely predicted the Fed may have lost patience but the unexpected dovish tone taken by Janet Yellen surprised markets, the S&P 500 rallied almost 4% and the USD slumped. 

Saxo Bank's Head of Macro Strategy Mads Koefoed gives us his reaction. Nothing he heard during Yellen's press conference changed his clearly expressed view that there will be no rate hike until September and he talks us through the trading implication both in the US and Europe.