There's no doubt that the Fed will hike its funds rate later today. The accompanying FOMC statement and economic projections will be of much more interest. The comittee took a step toward a more neutral bias at their most recent meeting. Should they continue in that direction, the dollar is bound to get sold. EUR/USD is trading in an ever tighter short-term range but any breakout will probably be limited, with ECB decision coming up tomorrow.
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