[MARKET ANALYSIS] DXY is contained amid FOMC-related uncertainty
Markets are cautiously positioned ahead of FOMC and BoE decisions. DXY is soft while AUD fell on low inflation data, and JPY remains choppy amid stock market volatility.
News detail
DXY: -0.1%Marginally softened despite the higher oil prices and mostly risk-off sentiment, but with price action kept to within narrow parameters as attention turns to the looming FOMC meeting, where there is some uncertainty with the Fed expected to keep rates unchanged, although money markets are pricing around a 36% chance of a surprise hike.EUR/USD: +0.1%Ekes modest gains and eyes a retest of the 1.1400 level, but with upside in the absence of any fresh catalysts from the bloc.GBP/USD: +0.1%Slightly rebounded in rangebound trade after recent oscillations through the 1.3300 level and as participants also look ahead to the BoE meeting on Thursday.USD/JPY: -0.1%Price action is choppy after pulling back from near 164.00 territory and amid the swings in Japanese stocks.Antipodeans: AUD/USD -0.4% / NZD/USD FlatMixed performances with AUD the laggard following softer-than-expected Australian quarterly and monthly inflation metrics.
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