The euro is modestly lower today after four days of gains.
The post-Fed USD slump appears to have run its course as the euro slowly gives up a bit of this week's gains.
The hourly chart shows the steady grind higher through the FOMC and then a sharp move higher yesterday that's now largely retraced. That rally yesterday was tough to square and retracing it puts the market on a more-neutral footing.
At the moment, I'm watching the bond market closely. US 30-year yields are at the lows of the day, down 4.6 bps to 2.44%. That could weigh on the dollar going forward; though it's still well-within yesterday's range.
