EUR/USD is trading in the negative territory below 1.1300 on Wednesday as markets wait for the FOMC to announce its policy decisions following its two-day meeting. The US Dollar Index holds above 96.00 ahead of the American session, supported by the modest recovery seen in US Treasury bond yields.
GBP/USD is posting modest daily gains above 1.3500, supported by the positive shift seen in market sentiment. The UK's FTSE 100 Index is rising more than 1.5% and S&P Futures are up 2.4% ahead of the Fed's policy announcements.
Gold spent the first part of the day moving sideways in a tight range below $1,850 but came under renewed bearish pressure during the American trading hours. With the dollar holding its ground ahead of Fed's policy announcements, XAU/USD trades below $1,840.