Overnight, Malcolm Turnbull defeated Tony Abbott in a leadership ballot, so he becomes Australia’s new Prime Minister. AUD took the news as positive as Turnbull apparently has experience in financial services and is seen as business friendly. Aud is above last week's high and might continue higher towards 7210s pre-FOMC unless the RBA's dovishness rains on the parade.
JPY lower after BoJ left monetary base unchanged, with no hint of QQE expansion. Market participants were looking for more dovish remarks by Governor Kuroda. Equity markets also held the Jpy pairs down, but it will take some decisive dovishness from the Press Conference (in about 30 mins time) to pop the Jpys back up.
While most of the market is playing a waiting game ahead of the FOMC decision,some Nzd and Cad pairs are starting to show some life signs today (see charts). Gbp has some data out today, so be cautious: play a setup early into EU, or (more conservative play) wait until the data is out of the way and see how we stand.
Charts for today:
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