Dollar initially dipped after FOMC overnight, but quickly found its footing. Overall market reaction was positive, but insufficient to alter the near term outlook. Sterling remains the worst performing one for the week while Swiss Franc is the strongest. Both will look into BoE and SNB policy decision today. Commodity currencies are on the softer side for now, while Yen is the firmer one.

Technically, we’ll keep a close eye on Sterling pairs for today. In particular, EUR/GBP failed to break through 0.8612 resistance on the first attempt. GBP/JPY also stabilized after hitting 149.03 key support level. Meanwhile, GBP/USD lost some downside momentum after breaching 1.3601 support. We’d see if Pound sellers would come back after BoE, or the currency would rebound from current levels.
In Asia, at the time of writing, Hong Kong HSI is up 0.69%. China Shanghai SSE is up 0.58%. Singapore Strait Times is up 0.86%. Japan is on holiday. Overnight, DOW rose 1.00%. S&P 500 rose 0.95%. NASDAQ rose 1.02%. 10-year yield rose 0.012 to 1.336.

Source: www.actionforex.com