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USD underperformed overnight ahead of the.....>

FOREX
FOREX: USD underperformed overnight ahead of the FOMC rate decision, with
another Fed hike widely expected, amidst calls for a pause from U.S. President
Trump. Implied probability of a 25bp hike tomorrow is 68.3%, according to a BBG
model. 
- CAD also struggled, exposed to soft oil prices, which operated just above
yesterday's/fresh multi-month lows overnight, with WTI gyrating around
~$46.3/barrel. 
- Kiwi outperformed and extended yesterday's gains, but NZD/USD failed to retake
yesterday's high at $0.6880. 
- JPY oscillated as risk appetite struggled for clear direction, with the Nikkei
225 climbing from lows to highs ahead of lunch, only to slip back to the
negative territory thereafter. The Nikkei 225 trades ~0.75% lower at writing,
but U.S. equity futures are in the green. 
- Worth noting that G10 currency pairs operated within rather tight ranges.
- Participants await the FOMC's MonPol decision. Elsewhere, focus today falls on
UK & Canadian CPIs.

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