[MARKET ANALYSIS] DXY gets some slight reprieve after weakening as Fed rate hike bets unwound post-FOMC

DXY: +0.1%Gets some slight reprieve after weakening yesterday in the wake of the FOMC meeting, which failed to match hawkish expectations. The decision to hold rates was widely expected, although three members opted for a 25bps rate hike, while a dovish reaction was seen post-rate decision in a likely unwinding of hawkish bets given that money markets were pricing in around a 33% chance of a 25bps hike prior to the confab. The statement was left alone, with no forward guidance, as was expected. Warsh stuck to his usual tone, giving no forward guidance, reiterating commitment to the 2% target, while he noted the decision not to hike was not much influenced by the June core CPI reading.EUR/USD: FlatTakes a breather after rallying back above the 1.1400 level on the back of the post-FOMC dollar pressure, while there is a slew of GDP data releases from the EU scheduled today.GBP/USD: -0.1%Slightly fades some of its recent spoils but with the reversal limited as the attention turns to the BoE meeting.USD/JPY: +0.1%Price action is choppy after recent fluctuations with the 163.00 handle, and with the BoJ kick-starting its 2-day meeting.Antipodeans: AUD/USD +0.1% / NZD/USD +0.3%Held on to yesterday's spoils and with mild upside overnight amid encouraging Australian Building Approvals and New Zealand Business Confidence.