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Asia Recap: Consolidation in G10 FX ahead of FOMC

FXStreet (Bali) - A slow Asian session, with all G10 currencies in consolidation ahead of the FOMC outcome later today, which will probably define the next near term trend for the USD.

AUD/USD kept the bullish tone, trading slowly higher, currently at 0.8866, and heading towards recent highs at 0.8881. NZD/USD was firmer at 0.7930 with sellers tipped at 0.7950/55, Tuesday's high. USD/JPY consolidated a few pips above 108.00. EUR/USD saw trading developing in a tight 1.2730-40 range. GBP/USD was capped a few pips below 1.6150.

On the fundamental front, Japan's preliminary Industrial Production for September came at +2.7% MoM VS +2.2% exp. In New Zealand, ANZ Business Confidence for October was lifted to 26.5 vs 13.4 prior (mainly on political uncertainty). Lastly, MNI/Wespac China consumer sentiment in October stood at 110.9 vs. 113.2 prior.

NZD/USD sidelined, waiting for FOMC and RBNZ

NZD/USD is squeezed in a narrow 26-pip range limited by 0.7933 on the upside and 0.7909 on the downside during quiet Asian session. Currently the pair is trading at 0.7923, marginally above the opening level.
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USD/JPY frozen above 108.00 ahead of FOMC

USD/JPY is trading marginally above its Asian opening level at 108.12 after having moved within a narrow range limited by 108.23 on the upside and 108.07 on the downside.
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