Fed's Yellen: We could start trimming balance sheet relatively soon

During a Q&A session, Fed's Chairwoman Janet Yellen has said the central bank has made no decision on when to start balance sheet reductions.

Key quotes (via Reuters):

• Fed wants to give advance warnings about balance sheet policy so markets can prepare
• Fed has made no decision on when to start balance sheet reductions
• Fed could start trimming balance sheet relatively soon
• Says was pleased to see Treasury report endorsed main objective of Volcker rule

Market updates post-FED:

AUD/USD backs away from session highs after Fed delivered a hawkish rate hike

USD/CHF rises to 3-day highs after FOMC decision

Yellen defends the hawkish rate hike, EUR/USD surrenders gains

NZD/USD eases from 4-month highs during Yellen's presser

US Dollar spikes toward 97 on hawkish Yellen

USD/JPY recovers further with Yellen

GBP/USD downside eyes a break of 1.2720 post FOMC