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The greenback continues to stay buoyed in the lead up to the FOMC meeting on 4 May this week, as it is sitting higher across the board so far today. USD/JPY is up 0.4% to 130.30 levels as buyers are looking to hold a push above the pivotal 130.00 mark:
That remains the key line in the sand to watch for the week as a firm hold above the figure level post-FOMC will allow for a solid platform to build towards the 135.00 level next.
Elsewhere, the dollar is posting light gains across the board with GBP/USD down 0.2% to 1.2550 as sellers continue to try and look to pressure support around 1.2500. AUD/USD is down 0.2% to 0.7050 as the downside momentum continues to stay the course with support at 0.7000 eyed.
Meanwhile, EUR/USD is down slightly to 1.0520 levels as last Friday’s bounce isn’t leading to much with sellers staying poised to try and look towards the 1.0400 level.
There might be more of a push and pull feel ahead of the Fed but I would expect the dollar to hold its own for the most part following the unrelenting push higher in April.