Dollar slightly softer but nothing too notable
The greenback is a tad bit softer after posting overnight gains as Fed chair Jerome Powell brushed aside weaker inflationary pressures as being transitory in his press conference after the FOMC meeting decision. That said, losses are well contained with most changes being in the region of around 0.1% only so far.
For a better gauge, EUR/USD only holds in a 15 pips range as we look to begin European trading and is sitting 12 pips higher on the day @ 1.1208.
The yen is a little on the back foot as markets grow a bit more optimistic of a trade deal between US and China. USD/JPY pushed higher to 111.67 earlier but is now trading in between key hourly moving averages @ 111.55.
The euro and pound will come into focus in the session ahead with a flurry of economic data set to be released alongside the BOE monetary policy meeting and inflation report. I don't expect those events to shake things up too much but it's best to keep your eyes and ears peeled just in case.
