All Quiet Ahead of the Fed
Asia remains sidelined ahead of tonights all important and long awaited FOMC meeting. Todays highlight has been the much worse than expected building approvals data out of Australia which knocked AUD/USD off its lofty perch as parity. The sell-off however was mild with the pair only getting down to 0.9959 before recovering back to 0.9980. EUR/USD followed AUD down to a lesser extent whilst USD/AXJ lost its offered tone ever so briefly. The rest are moribund.
Back shortly with a perspective on what to do post Fed.

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