The FOMC decision is at 2 pm ET
Bank of America Global Research discusses the latest output from its scorecard model.
"Aggregate signals remain directionally bullish USD on a majority of pairs in our FX scorecard. Short EURUSD (-4) and long USDCHF (+4) are the strongest bullish USD signals into what we expect will be a USD supportive FOMC event this week. Also notable is our long USDNOK (+3) signal. We flag long AUDUSD (+2) as the only moderately USD-bearish signal," BofA notes.
"Short EURUSD and long USDCHF are supported by relative growth & inflation expectations, flow reversion potential, carry and our risk factor. Short EURUSD is additionally supported by negative momentum," BofA adds.
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