S&P 500 and USDJPY: Where To After the Fed’s Hawkish Whiplash?

The Federal Reserve rate decision proved the volatility-inducing event that macro observers have come to expect. The S&P 500 suffered its biggest single-day loss on a Fed day of 2023 after a dramatic intraday reversal. What will the hawkish outlook from the US bank mean for risk assets like the S&P 500, the BOE today and NFPs impact Friday?