Take a look at what the Fed is doing to reel in QE as well over the past few weeks, it's also interesting and potentially relevant to the thought process although it get's less top line press.
For sure, Fed balance sheet impact will be equally important. I was just suggesting to the previous poster that impact on currencies is not just driven by the actual decisions on a macro level but by expectations of timing and impact way beforehand.
We might get to 1.24/1.25 levels faster than I thought... "FED'S POWELL: WE WILL BE WILLING TO MAKE POLICY CHANGES IF INFLATION EXPECTATIONS ROSE TOO HIGH" "FED'S POWELL: MANY PARTICIPANTS BELIEVE THAT THE CONDITIONS FOR LIFTOFF WILL BE MET EARLIER THAN ANTICIPATED."
@Master Pu, I just took profit at 1.2458. That worked out really well. Lost 60 pips earlier on 1/3 of target size as indicated in an earlier post and then went full in June 8