All eyes on Fed decision

JPY
• USD/JPY, JPY crosses were steady in lackluster, quiet Asia trading.
• FOMC the focus, little else mattered, Nikkei up 1%+ but shrugged off.
• As-eyed Japan trade data, MoF flow data also shrugged off.
• USD/JPY 120.34-67, option expiries above and below helped bracket market.
• 120.00 484 mln, 120.25 500 mln, 121.00 2.782 bln and 121.11-15 800 mln.
• EUR/JPY136.09-31, GBP/JPY186.67-187.21, AUD/JPY86.41-91, NZD/JPY 76.31-87.

EUR
• EUR/USD opens Asia at 1.1294, up overnight on broad, pre-Fed USD weakness.
• Decent demand early as USD longs continued to pare positions.
• 1.1287 to 1.1318 before easing back, good sellers 1.1320-30.
• Aside from more position adjustments, quiet eyed into FOMC announcement.

GBP
• Cable steady on higher plane after good jobs data, Asia 1.5493-1.5520.
• Support from @1.5500, hourly Ichi tenkan line at 1.5503, dip-buy mode.
• Sentiment could turn quickly depending on FOMC announcement, Yellen talk.
• EUR/GBP quiet in Asia, 0.7275-95 range after fall overnight.

CHF
• USD/CHF edges down from 0.9715 to 0.9690 on USD position adjustments.
• EUR/CHF steady to bid, 1.0959-73 in Asia.

AUD
• AUD/USD opens Asia at 0.7198, steady to bid between 0.7178-7208.
• Some chop on pre-FOMC position adjustments, offers in place 0.7200+.
• Despite bearish bent, sell-rally mentality, AUD grinding higher, trend?
• 0.7250 decisive break to upside short-run bullish.

NZD
• NZD/USD 0.6366 New York close highest in over a week as USD longs trimmed.
• Early dip to 0.6332 on slightly weaker NZ trade data.
• Bounce later on more pre-Fed USD long liquidation.
• NZD underperforming against JPY, EUR and AUD.
• Overall bias remains down on likely divergent NZ/US central bank paths.

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