The dollar has all but erased its post-FOMC drop, and then some

The greenback is catching a bid in European morning trade, with EUR/USD now down 0.5% to 1.0485:

USD/JPY has also moved back up above 130.00 to 130.60 at the moment while GBP/USD has fallen below 1.2300 for the first time since June 2020. In essence, the dollar has clearly erased its post-FOMC drop now.

The aussie and kiwi are also bearing the brunt of more sluggish risk sentiment as US futures Futures Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Read this Term are also marked lower by 0.3% currently. AUD/USD is down 0.6% to 0.7065 after hitting a high of 0.7265 in the aftermath of the FOMC meeting decision, also being rejected by its 100-day moving average:

The market themes from April look to be carrying over to May at the moment and if the overall structure centers around deleveraging, it is tough to see the dollar's position be displaced for the time being.