FX, May 9 / PRNewswire-FirstCall-Asianet /-- FX and interest rate strategist Vassilis Karamanis said: "when I routinely checked the market before the New York and Tokyo trading hours last Thursday, I found that one of my launchpad monitors had crashed, which shows how drastically the market's expectations of the Fed's monetary policy outlook have changed in the hours before I went online." While this is certainly nothing new, don't forget that it was only a few hours after the Fed announced its interest rate decision, and Federal Reserve Chairman Colin Powell reiterated once again that tightening may be suspended rather than shifted. It is clear that market expectations have something to do with the sharp fall in bank stocks in the United States. The move in options indicators after Friday's non-farm payrolls report further proves that it is not economic data that is driving the market against the Fed. (Bloomberg)