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Forex pairs in this Article » EUR/USD, USD/JPY (Barcelona) - Emmanuel Ng of OCBC Bank notes that the dollar weakened across the board on Tuesday while positive risk appetite levels saw renewed JPY weakness on the crosses despite USDJPY ending largely steady.

Meanwhile, he notes that the EUR continued to consolidate, with EURUSD bouncing higher into the late US session. He writes, "Today, the run up to the FOMC statement will likely keep the markets in thrall and we continue to think that the Fed may choose not to prematurely telegraph any intention to withdraw monetary stimulus despite the somewhat encouraging US data flow of late - potentially dollar negative."
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