Dynamics.

dollar again fell markedly, updated yearly lows against several currencies including the euro. When the pair EUR /USD rose to a mark 1.4840, the pair GBP /USD recovered to 1.6400, and the pair USD /CHF fell below 1.0200. The Japanese yen strengthened slightly against other currencies. When the pair USD /JPY fell below a mark of 91.00, and the pair EUR /JPY dropped to a mark of 134.00. Commodity currencies rose against the U.S. dollar. Thus, the pair AUD /USD has almost reached the mark of 0.8800, the pair NZD /USD has tested 0.7300 mark, and the pair USD /CAD has decreased to 1.0660.

reasons.

catalyst reduction was to raise the Asian Development Bank forecasts for economic growth in some Asian countries, including India and China. It was also noted that these countries lead the world economy out of recession. This caused an increase in commodity prices, stock quotes and prices for assets that are most sensitive to risk, while the U.S. dollar came under severe downward pressure. Quotations decrease of the dollar also contributed to technical factors. At the same time, at the North American session, the situation has stabilized, and the dollar has stopped declining. This indicates that market participants prefer to await the Fed's statement on monetary policy.

What to expect?

Today will be delivered at the Fed's decision on U.S. monetary policy. It is not expected to significantly change the position of the Fed, in its willingness to hold interest rates at historically low levels. However, a slight change in the tone of the statement accompanying the Fed's decision, can strongly influence the market, which is waiting for any hints on how the U.S. central bank will carry out a promotion program of monetary policy. Against this background, possible sharp increase in volatility.

Other events of today are likely to be of secondary importance, but very important, will be publishing preliminary September index of Purchasing Management in manufacturing and services eurozone. Output indexes above 50.0 mark can provide essential support for a single currency and will continue to rise against other major currencies.

Also today, will be published the minutes of the last meeting of the Bank of England. Perhaps they clarify for members of the Committee on monetary policy to the issue of reducing the interest rate on bank reserves. This can significantly affect the position of the British currency.

Why worry?

The market situation remains very fragile before the announcement of the outcome of meetings of the Fed, and therefore the possibility of a rapid and multidirectional vibrations major currency pairs.

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