Despite the Federal Reserve sticking to its pledge to keep interest rates at record lows for a ” considerable time ” after its bond buying program winds down in October the market seems to have focused on higher projections for the Fed Funds rate in 2015 and 2016 and Fed President Fisher joining Plosser as a dissenter against lower rates . The fact that the growth forecast was tweaked lower was largely ignored. Today’s big event is the Scottish Independence referendum vote and with results expected early Friday morning. The latest polls pointed to the “No” vote still marginally ahead of the “Yes” vote and Sterling is stronger overnight. Despite, the ECB ‘S first targeted long term refinancing operation ( TLTRO) being met with subdued response the EUR has stabilized and is off its earlier lows. Away from North America and Europe, a stronger GDP report out of New Zealand gave the “kiwi” currency a positive tone and it reversed early losses .