The pound is now back to flat on the session after falling by as much as 30 pips on today's soft CPI report. It's a similar story across the board as the US dollar gives back its overnight gains. It's tough to take any signals ahead of the FOMC decision but Treasury yields are 1-2 bps lower across the curve today as 10s attempt to reject the 4.35% resistance level. That said, these dollar moves could reverse in a hurry if the Fed is decidedly hawkish. This article was written by Adam Button at www.forexlive.com.
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