USD/JPY in tight range ahead of FOMC risk

USD/JPY continued to trade in a tight range as markets are cautious ahead of the FOMC meeting today. The pair traded between 123.37-48 in an extremely quiet Asian session. The FOMC wraps up a two-day meeting today with a statement and then a press conference with Federal Reserve Chair Janet Yellen. All eyes will be on her as investors look for clues about the timing of the first rate time. Most expect a September hike.

EUR/JPY bounced after yesterday’s plunge from 140.01-138.27. The pair edged up from 138.74 to 139.05. GBP/JPY consolidated from 192.87-193.10 after yesterday’s push up to 193.14.

EUR/USD opened in Asia at 1.1248 after a relatively quiet US session. There was a dip to 1.1239 before it rose up to 1.1267. The Greek drama will still be the main driver of this pair as markets look ahead to the Eurogroup meeting on Thursday.

GBP/USD consolidated gains after reaching a high of 1.5655 yesterday. The pair traded between 1.5632-53 in Asia. EUR/GBP was better bid after a fall yesterday to 0.7175. In Asia it traded 0.7187-0.7200.

USD/CHF was soggy in Asia, up a modest 0.9326 to 0.9306. EUR/CHF was steady in Asia, between 1.0475-86.

AUD/USD opened in Asia at 0.7756 and traded down from 0.7757 to 0.7715, as pre-FOMC position adjustment pushed the pair down.

NZD/USD drifted lower in Asia, from 0.6994 to 0.6967.NZ current account data was shrugged off.

The post USD/JPY in tight range ahead of FOMC risk appeared first on Forex Circles.

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