Dollar edges off lows as Fed decision looms- EUR/USD drifts a little lower

The US Federal Reserve will shortly announce the outcome of their monetary policy decision, at 6pm GMT. The dollar has been under quite significant pressure today, since the latest CPI report forced a slide in US bond yields and caused stocks to rally to record levels in the Nasdaq 100 and the S+P 500 indexes. They are right now off their earlier highs, but not by very much. The dollar is trying to win back some ground now though. The EUR/USD is drifting a little lower, from what was an earlier high at 1.0852. The GBP/USD is off its highs just now too. So, it remains to be seen just what the Fed has to throw at the US currency shortly, and whether or not this slight rebound in the US currency can turn into something a little more meaningful. Of course the opposite applies right now too. So, it is all looks quite finally balanced, with around 15 minutes to go before that Fed decision hits the screens. The EUR/USD is currently trading at 1.0837