1.Hike but imply that they are one and done for the year > Initial USD spike followed by vicious reversal
2. No hike but indicate that rates will still rise this year > Initial USD drop followed by healthy relief rally
3. No hike and no guidance on when rates would rise > Multi-day decline in USD
4. Hike and indicate that more could come in 2015 if headwinds fade and US economy strengthens > Multi-day rally in USD |