The Euro is trading at 1.1091 at the moment.  The low has traded at 1.1074 while the high has traded at 1.1112.  The Euro has traded mixed while collectively easing lower as the day has progressed.  With no significant European economic data released today, investors are surely focusing on the Fed announcement that is due out later today during the New York session.  The Fed is not expected to increase interest rates further at this juncture with many economists suggesting that the next rate hike is more likely to take place in June of this year.  However, investors and economists alike will be highly interested in the comments that Fed Chair Janet Yellen will deliver following the interest rate announcement.  These comments will point towards the economic areas of focus for the Fed.  With recent signs of weakness being seen in the global economy, the Fed is expected to remain very cautious of hiking interest rates further at this time.  With both the European Central Bank and the Bank of Japan recently updating their monetary policy initiatives, the Fed is expected to hold current policy intact as ECB and BoJ policy decisions are given time to work.  Both the European economy and the Japanese economy have recently been susceptible to downside pressures from a global economic slowdown triggered by several factors including lower prices for crude oil and economic headwinds out of China.

The British Pound is trading at 1.4099 at this writing.  Sterling has traded at a low of 1.4084 while the high has traded at 1.4158.  Cable has traded at its lowest level in 2 weeks today as the US Dollar gained support ahead of the Fed rate announcement later today.  Additionally, the UK government will have its Annual Budget Release this morning which is sure to give indication of the direction the UK economy is seen to be moving towards.  This realization is probably what is having the recent impact on the value of the Pound this morning.  Meanwhile, UK jobs data was slightly better than expected with the UK Average Earnings Index beating expectations recording a 2.1% increase.  The UK Claimant Count Change was better than expected with -18.0K registered.  The UK Unemployment Rate remained unchanged at 5.1% meeting expectations.  The market is probably in for a few more twists and turns today with the US Housing and Inflation data to be released soon while US Industrial Production will be released later this morning.  This data will surely add commentary to the Fed announcement later today.

The Japanese Yen is trading at 113.50 at present.  The USD/JPY low has traded at 113.02 while the high has traded at 113.76.  The US Dollar continues to add modest gains versus the Yen as investors direct their focus towards the Fed announcement out later today.  With no significant Japanese economic data released today, the US dollar has managed to gain support although it is currently trading off of its high today.  Traders highlighted earlier that the Yen lacks liquidity when the BoJ makes policy announcements.  Uncertainty is likely the reason the liquidity dries up as BoJ policy announcements are not specifically scheduled like other central banks. 
AUD/USD is trading at 0.7450 with the low trading at 0.7438 while the high has traded at 0.7476.
USD/CAD is trading at 1.3373 with the low trading at 1.3347 while the high has traded at 1.3385.
This information has been prepared to provide you with general information only. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information.