Major forex pairs are generally stuck inside yesterday's range as markets await FOMC rate decision. Swiss Franc is the exception, though, as the selloff against Euro spreads to other Franc pairs. Dollar and Canadian are the next weaker ones. On the other hand, Aussie and Kiwi are the firmer one while Euro and Sterling are mixed. The picture should easily be changed by post FOMC volatility. Fed is widely expected to raise federal funds rate by 50bps to 0.75-1.00% today. The plan for balance sheet runoff should be announced too. But the main question is what next. Fed fund futures are currently pricing in 99.1% chance of a 75bps hike in June. Markets would be eager to get some hints from Chair Jerome Powell on such expectations. But then, Powell is unlikely to give anything concrete. In Europe, at the time of writing, FTSE is down -0.42%. DAX is down -0.04%. CAC is down -0.57%. Germany 10-year yield is up 0.0216 at 0.993. Earlier in Asia, Hong Kong HSI dropped -1.10%. Singapore Strait Times dropped -0.23%. Japan and China were on holiday. | 