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Dollar index (USDX) off the boil coming into the 4pm London Fix as the Fed awaits

The dollar is off its best levels of the day now and it has drifted back across the board since the US stock markets reopened. The GBP/USD is trading back above the 1.2700 and the EUR/USD has recovered another drop earlier below its 200 day moving average. That is potentially important about that; is the Euro rejected a new low, albeit by just one pip. The USD/JPY is off the boil too. Earlier the USD/JPY got very close to the important major double top at 151.91 and 151.95. The high seen was set at 151.82. It has since edged back towards 151.50 and it is currently trading around 151.60. This all adds up to a drop back in the USD Index (USDX). Earlier that reached 104.14. It is now trading back underneath the 104 handle. The dollar coming off the boil heading into the 4pm London Fix probably makes sense, with some paring of dollar longs ahead of the Fed policy decision in around 2 1/2 hours from now 

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