The U.S. dollar losing a little of its recent gains

Good Morning,

- Stocks up, dollar dips ahead of Fed later today…

- Asian Stock markets rose and the Dow hit a fresh record, as investors bet that the FED would not adjust its guidance about how soon it would raise interest rates. Japan's Nikkei -0.14%, Hong Kong's Hang Seng 1.03% (07:25 GMT), Korea's Kospi 0.96%, Australia's ASX 200 -0.64% and China's Shanghai 0.52%.

- The FED today could offer fresh clues on when it plans to begin lifting interest rates and how quickly it will move, as it prepares for a momentous policy turn after years of aggressive monetary stimulus. Although a tightening of monetary policy is not expected until mid-2015, the central bank could use a policy statement tonight to lay important groundwork. In particular, speculation is rife the policy-setting Federal Open Market Committee may change its guidance on how long it is likely to keep rates near zero.

- The U.S. dollar losing a little of its recent gains with index eased back to 84.124, from 84.372 top on Tuesday.

- Goldman Sachs on EUR/USD: Regardless of what happens this week, risk-reward for the USD is skewed to the upside in coming months. That is because forward guidance has been disproportionally important in holding down the Dollar, so that any changes on this front – whether this week or in coming months – are Dollar bullish. Because of this, we also see the potential for Dollar downside as limited in the event of a dovish surprise this week," GS expects. "In short, we think the market remains reluctant to take the ECB at its word and prices only what it can see. This means the steady grind lower in EUR/$ will likely continue, towards our 12-month forecast of 1.20, with a strong take-up at this week’s T-LTRO a potential catalyst for the next move lower," GS projects.

- The pound rally yesterday from $1.6163 to $1.6306 as already three surveys - from pollsters ICM, Opinium and Survation - showed support for Scottish independence at 48 percent compared to 52 percent backing union.

- Ahead of Thursday's critical Scottish Independence vote, as The Guardian notes, history shows that when people are asked, they almost always say yes to independence. Every election, country and place’s history is unique and different. Scotland is no exception. Yet, when given the opportunity, The Guardian finds countries tend to vote in favour of independence, and to do so decisively - across 50 votes since 1846, the vote for independence came out on top 88% of the time.

- Japanese pension funds favoring overseas investments are helping send the yen down toward its biggest monthly loss this year, Nomura Securities says.

- New Zealand's seasonally adjusted current account balance was a deficit of $2.0 billion in the June 2014 quarter, Statistics New Zealand said. This was $1.4 billion larger than the March 2014 quarter deficit.

- Commodities boosted by reports that China's central bank would provide 500 billion yuan in short-term funding to the country's top five banks. China's money rates opened sharply lower on the reports, which fuelled market hopes Beijing was ready to add more stimulus given recent weakness in housing, imports and industrial output.

Watch today : UK labour data, EU CPI, US GDP…and FED !

Have a nice Day !