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      USD declines ahead of FOMC

      FXStreet (Córdoba) - The US dollar weakened minutes before the Fed’s decision on rates. Traders are waiting the key meeting that could be historic if the central bank raises the interest rate: it would be the first time since 2006. The decision, the FOMC statement and Yellen’s press conference are likely to trigger volatility across financial markets.

      EUR/USD bounced to the upside from 1.1295 and is approaching daily highs that lie at 1.1335. GBP/USD is back near 1.5550. Commodity currencies remain in negative territory against the US dollar for the day but moved off session lows. USD/JPY is moving slowly off the highs but still remains above 120.70.

      Most forex crosses are still trading in modest ranges ahead of the decision that will be released at 18:00 GMT.

      Gold struggles despite USD weakness ahead of FOMC

      Gold prices struggle to turn positive and extend gains despite USD being offered against the majors ahead of the FOMC rate decision.
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      GBP/USD: 1.5560 key near term resistance - UOB

      Analysts at UOB Group have a neutral outlook for GBP/USD on a 1-3 week time frame.
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