DXY has added 11 pips thus far and last......>

DOLLAR: DXY has added 11 pips thus far and last trades at 95.87, although USD

underperforms all of its G10 peers at writing.

- WTI last trades virtually unchanged, while gold trades ~$5.3 higher.

- The dollar index tanked 62 pips yesterday on the back of the latest FOMC

MonPol decision and the accompanying press conference with Fed Chair Powell, who

struck a dovish note. Whereas the FOMC left its MonPol settings unchanged, it

signalled that it will stand pat on rates through 2019, adding that it now sees

one hike in 2020. It also trimmed its GDP growth forecasts for 2019 and 2020 to

+2.1% from +2.3% and to 1.9% from 2.0% respectively. Elsewhere, the FOMC

announced that it will halt the balance sheet runoff in September.

- Also worth noting U.S. President Trump said that tariffs on China will remain

in place "for a substantial period of time," unless it is clear that Beijing

complies with any trade deal it signs with Washington.

- The initial resistance is located at the 96.00 mark and a break above the

figure would open up the 50-DMA at 96.39. Bears look for a return below the

200-DMA at 95.85, ahead of the lower 1.0% 10-DMA envelope at 95.63.