Surorise would be if the Dot plot shows 2 cuts (see JP’s post on this)
The other surprise would be if the first-rate cut is pushed out past June although as I posted the other say, I heard that the odds had shrunk to 50/50 for the first-rate cut in June.
FX will probably take its cue from how bond yields move but this should be a non-event meeting unless Dot plot turns more hawkish.