The pound is now back to flat on the session after falling by as much as 30 pips on today's soft CPI report. It's a similar story across the board as the US dollar gives back its overnight gains.
![GBPUSD 10 mins](https://images.forexlive.com/images/GBPUSD%2010%20mins_id_ee19deca-be30-4f60-9b78-48174c31546d_original.jpg)
It's tough to take any signals ahead of the FOMC decision but Treasury yields are 1-2 bps lower across the curve today as 10s attempt to reject the 4.35% resistance level.
That said, these dollar moves could reverse in a hurry if the Fed is decidedly hawkish.