After the initial surge in the US$ it's been less than exciting since
Asia customarily had little to offer on the debate so as Europe opens up what might we expect?
Well, I think the jury is still out on a December hike tbh and the fact that the Fed seems to place less concern on global uncertainties seems careless at best, reckless at worst
Stock markets went up on a relief-rally given that the FOMC didn't hike, and now stand poised to come back down when rates do eventually go up
So the Fed say they will decide on a hike in December but that's not saying they will. Perhaps they do but how about if they are just preparing the way a little more for hikes in Q1 2016?
There's been little by way of selling the greenback since the dust settled so the first thing we should look for is whether Europe think this is all overdone or not done enough
I think the former, but as I say on many occasions it's all delicately poised with the BOJ meeting tomorrow also very much in the frame plus the usual month-end flow shananigans
EURUSD currently going nowhere at 1.0940 but with good demand around 1.0900 and larger at 1.0850. Offers into 1.1000
GBPUSD remains near support around 1.5250 with more into 1.5200. Offers at 1.5280 and 1.5300 the initial resistance
USDJPY at 120.79 has a tight band ahead with demand at 120.00 and offers around 121.00 ( large option expiries today).
The SNB will be more than happy with their long-USDCHF accumulation in the past week. Currently 0.9930 with offers/res into 0.9960 then 1.000 though
AUDUSD still crawling along the bottom at 0.7113 but with good demand around 0.7100 while USDCAD still remains oil price -dependent at 1.3208 despite feeling some US$ love post-FOMC
