Fed needs a little bit more time

Was the fact that the Fed did not dare to execute lift-off, but only signaled that that step would follow at a later stage (it sounded like December) really so important as to cause EUR-USD to record gains that peaked near 150 pips? Not just that. What mattered was not a carry of 25bp more or less. 

"What mattered was the fact that the US central bankers sent a signal to the market, "If in doubt we will wait. Even if there is just a hint of a doubt." The rate path that has to be assumed that Fed is likely to take, will be much less steep than that of a central bank that will implement a rate hike even if not every last detail is exactly right", says Commerzbank.