The US dollar is coming under some broad selling pressure with approx 20 pip moves against other currencies.

EUR/USD is quickly up to 1.2088 from 1.2068 but the move is universal. It comes with Treasury yields falling back to flat on the day and a decent bid in equities.

It’s Fed day so volumes in FX are likely light but this shows little fear of a Powell hint at a taper.

Keep an eye on USD/CAD as it approaches the March low of 1.2365. There may be stops below.