Expectations of QE3 and for a surge in risky assets have grown to extraordinary levels in the lead up to the Fed's rate decision. Stocks, high yield currencies and the euro have all benefited from the rosy outlook, while the dollar has suffered the brunt of pain. Yet, with assumptions so dramatically skewed, the outcome for event becomes more complicated. In this video, we discuss why this is such an important event; market conditions ahead of the release; the different outcomes for the Fed; and what pairs and markets are best positioned for different reactions.