The dollar has found itself in a ranging position against all major currencies for the last few trading days, and this is likely to remain the case until tomorrow's FOMC statement.  Most everyone agrees that the Fed will keep rates at 5.25% so we don't expect any surprises there; however, the Fed's statement following the data release is going to be watched very closely.  At that time it is most certain that the dollar will undergo some kind of major movement whether it be continuing the losses it incurred two weeks ago or gaining some more of the strength it exhibited at the close of last week.

It should be interesting.  Happy Trading!!!