MGC, ZARJPY and the Fed's next move

Seems like the market is already pricing in a more dovish Fed after that inflation print, which is interesting to see the immediate reaction in commodities like $MGC down at 270.92, while riskier FX pairs like $ZARJPY are also showing weakness, currently at 9.803. I'm not convinced the Fed pivots that sharply just yet, but the market's enthusiasm is definitely notable. My watchlist is staying heavy on dollar strength plays against less robust economies until we get clearer guidance. Those daily ranges on $MGC (270.92–276.35) and $ZARJPY (9.779–9.905) just scream indecision to me; this isn't a strong conviction move, more of a knee-jerk. $MATIC, up +3.51% today at 0.2826, seems to be enjoying the general 'risk-on' sentiment this narrative fuels, but crypto is a different beast entirely.