 Dollar rebounded broadly overnight and stayed generally firm in Asian session. Stock investors were apparently adopting a cautious stance and lightening up positions ahead of Fed's rate decision and subsequent press conference today. With recent data pointing to persistent inflationary pressures, expectations are mounting that Fed would adopt a more hawkish tone. It's a minimum that Fed will indicate that rate cuts would only be considered once inflation consistently moves towards the target. The central question now is the extent of this hawkish shift. For now, the selloff in the currency markets seemed to be concentrated most in Swiss Franc primarily due to diverging monetary path with other major central banks. While SNB has already begun policy easing, other central banks, including even ECB, may not ease as aggressively as previously anticipated. This disparity in central bank policies is contributing to Franc's weakness... | 
