Overview
After a confused and volatile reaction to the Federal Reserve's formal adoption of an average inflation target, it took Asian and European traders to embrace the signal and take the dollar lower. It is falling against nearly all the currencies and has slumped to new lows for the year against sterling and the Australian dollar. Compounding the volatility, Japan's Prime Minister Abe has signaled his intention to resign over health issues as soon as the LDP picks a successor. The yen strengthened, in line with the other major currencies, but the Nikkei fell. Asia-Pacific