Equity markets were quiet, after recent rises, ahead of the US GDP number and Yellens address. Expectations are for Yellen to confirm improving economic conditions but leave rates unchanged until next month. Six months into the calendar year and interest rates remain on record lows. This is despite signaled rises from the Fed! The EUR dipped below 1.1200, while the yen rallied to 109.40, as the Dollar embraces QE. The GBP fell to 1.4660, just off pre-Brexit scares, as polls indicate they will remain. The US had some stronger Durable Goods numbers and a spike in Pending Home Sales. This has given confidence ahead of the Feds meeting and the GDP number release. The growth number will be an important part of the Feds decision. The NZD fell from a tight trading range, around 0.6750, to trade below 0.6700 after a lower than expected Dairy auction forecast price. The Budget was strong, with fiscal surplus the common theme, allowing repayment of debt in to the future. This was received well by markets, with the NZD recovering back towards 0.6750, once again. The AUD is consolidating above 0.7200, awaiting the impact of the Central Bank, on the big Dollar.