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    FX Charts - Trading Cautious Prior to the FOMC Announcement

     

    GBP/USD at 5-year low of 1.4640 after the UK jobs earnings data came in lower than expected at 1.8% versus the 2.2% forecast. EUR/GBP rose to test 0.7250 adding to cable's weakness.

    EUR/USD trading was subdued from Asia to the New York open with a 50-pip shortcovering gain to 1.0630 as market participants stayed on the sideline to wait for the highly anticipated FOMC policy announcment at 18:00 GMT followed by Yellen's press conference at 18:30 GMT. EU Dijsselbloem repeated that Greece is running out of cash and must work on economic reform.

    USD/JPY traded in a narrow range of 121.40 - 121.10 (-30 pips) from Japanese importers buying the yen. Noted bids start at 121.00. On the upside, decent offers at 121.50 and 121.75.

    USD/CHF eased down from the intraday high of 1.0065 to 1.0012 (-53 pips) on swiss buying interest against both the dollar and euro. March ZEW investor sentiment was better than expected at -37.9 versus -73.0 in Feb. The SNB policy makers meet on Thursday.

     

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