Dollar index down by more than 0.2% on the day
EUR/USD touches a high of 1.2031 on the day, climbing back above the 200-day MA (blue line) @ 1.2016. The dollar continues to weaken further on the day, losing ground against all major currencies at the moment ahead of the FOMC meeting later.
Cable also runs up to a high to 1.3640 moments ago with commodity currencies extending earlier gains against the greenback as well.
There is a hint of position unwinding ahead of the Fed meeting later today, and European traders don't look like they're getting too carried away by yesterday's swing in the dollar after missing out on the action.
