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Asia Recap: Traders sidelined ahead of FOMC

FXStreet (Bali) - G10 currencies, without exception, traded in tight ranges ahead of the FOMC, which should produce significant volatility.

AUD/USD pullback from above 0.91 found buyers ahead of the 0.9050 area, with th rate heading into London at 0.9070. NZD/USD traded some 20 odd pips below 0.82 after gunning stops through the round number overnight. USD/JPY maintained the 107.00, last at 107.20. EURU/USD traded glued at 1.2950. GBP/USD exchanged hands at 1.6275.

On the fundamental front, Die Welt - via Bloomberg - reported that the ECB is considering buying ABS below its own credit rating limit. In New Zealand, the Q2 current account balance printed -1.065bn, below the expected -0.95bn. In Australia, the Westpac/Melbourne Institute (MI) Leading Index for August came at -0.1%, unchanged from last month.

GBP/JPY clinching to weekly highs at 174.50

GBP/JPY is keeping close to previous week’s high at 174.50 after a short-term dip below 173.00 on Tuesday. Currently, the cross is trading at 174.44.
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AUD/USD bears are in control again; 0.9060 support in sight

AUD/USD is reversing yesterday’s gains having opened marginally below 0.9100; the pair has dipped to 9070 amid positive USD dynamics across the board.
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