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US dollar comes under pressure ahead of the FOMC

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Fed jitters fade

The US dollar is coming under some broad selling pressure with approx 20 pip moves against other currencies.

EUR/USD is quickly up to 1.2088 from 1.2068 but the move is universal. It comes with Treasury yields falling back to flat on the day and a decent bid in equities.

Fed jitters fade

It’s Fed day so volumes in FX are likely light but this shows little fear of a Powell hint at a taper.

Keep an eye on USD/CAD as it approaches the March low of 1.2365. There may be stops below.

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