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Forex pairs in this Article » EUR/USD, USD/CHF, GBP/USD, USD/JPY (Córdoba) - The USD trades virtually unchanged on the day, with majors oscillating in very tight ranges as the post-Fed momentum seems to be fading away.

The Fed's inaction Wednesday led to an USD slump, but the greenback has managed to trim and in some cases (CAD, JPY) to erase completely post-FOMC losses over the last sessions. However, Friday’s has characterized by quiet trading.

EUR/USD hovers around 1.3550, while GBP/USD holds below 1.6100. Meanwhile, the USD/JPY has settled above 99.00, having dropped to 97.75 Wednesday as USD/CHF clings to 0.9100.

The CAD is the worst performer among commodity currencies, with USD/CAD trading just below 1.0300 ahead of Canada CPI figures. AUD/USD is a tad softer around 0.9430 and NZD/USD is virtually unchanged at the 0.8680 zone.

Main Headlines in Europe:

European open: Few surprises on the horizon. Consolidation following Fed excitement earlier in the week

UK: PSNB at £11.452B in August

What Sunday's German elections could mean for the markets

Merkel could be forced into grand coalition after Sunday elections

Erkki Liikanen: the ECB should not take responsibility for bad banks. Rates to stay low.

Further sterling support as UK budget deficit declines in August
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