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DAX extends opening gains as dollar edges lower versus Europe

The DAX has now extended its opening gains to above 15,750. The move higher comes as the FTSE 100 remains pretty resilient above 7,700, following the lower than expected UK inflation data. The US futures are making progress now too and the Nasdaq 100 is above 15,200. The dollar is selectively a bit lower too, but not versus the Yen. The EUR/USD is trying to reclaim the 1.07 handle, as the GBP/USD continues grind back above 1.2360. There will be more to add on all this of course as the session develops, remembering that it is 6pm GMT this evening when the action might really start. I will be on hand then, to keep you posted on what emerges from the Fed and their eagerly awaited monetary policy decision. Meantime, the DAX is just now trading at 15,760

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