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A snapshot view of currency moves throughout the Asia session, ahead of the UK open.

Post-Fed, the Doves are on parade, treasury yields have fallen and bets for a cut in 2019 have increased. Certainly not a bad day in the office if you’re bearish USD.

As we noted in yesterday’s FOMC Preview report, the US central bank was never going to make any immediate changes to policy, leaving traders to read Powell and Company’s tea leaves for implications about future tweaks. As it turns out, the tea leaves were clear: The Fed has undergone a major dovish shift.

A snapshot view of currency moves throughout the European session.

The NZD/USD might not be the most obvious pair to monitor the US dollar’s movement against tonight, but there is a good reason why this pair should be watched closely.

The GBP/USD and the other pound crosses are understandably very sensitive to Brexit-related headlines given that we are fast approaching the March 29 exit date.

A snapshot view of currency moves throughout the Asia session, ahead of the UK open.

The US dollar perked up mid-Asia, weighing notably on commodity currencies AUD and NZD ahead of the meeting. With a likely swing high in pace, AUD/USD could be headed for 70c.

EM currency crisis could resurface again in the coming months, if investors unwind their bullish bets on these currencies and equities, after a very positive first quarter – especially for the INR.

Spoiler alert: The Federal Reserve won’t be making any immediate changes to monetary policy at the conclusion to this week’s two-day meeting. Nonetheless, it would be a mistake for traders to ignore the central bank’s economic projections and comments.

In recent days, we have been talking up the prospects of stronger recovery in European stock markets, owing in part to the falling government bond yields as a result of major central banks like the European Central Bank turning dovish recently...

A snapshot view of currency moves throughout the Asia session, ahead of the UK open.