FXStreet (Guatemala) - Analysts at ANZ explained that it’s typical for central bank action (or the prospect of some) to act as a catalyst for improving sentiment and last night’s price action bore that out. Key Quotes: "Attention will now turn to nuances from the Fed (with markets now mechanically only pricing in one hike over the year ahead) and to the BOJ. Climbs up the stairs invariably follow movements down the elevator as extreme pessimism corrects somewhat. We saw precisely than overnight and movements may extend further. However, problems are still numerous. If the post GFC era has taught us anything it is that there is a limit to what central banks can (and should) do. A host of commodities (particularly oil) face structural shifts lower as leverage/the financialisation of commodities get unwound. China remains an economic enigma. And the global economy is simply not seeing enough growth; building more growth needs a concerted effort to strengthen economies microeconomic foundations. It’s all occurring amidst capital repricing (credit spreads, the Fed), which still matters, no matter how modest." For more information, read our latest forex news.