Dollar falls against the euro and franc, trims gains against the pound, aussie

There isn't much of a clear direction in the market today as traders and investors are all waiting on the Fed tomorrow to commit to any firm moves.

The dollar was slightly higher earlier as Treasury yields nudged higher but that has also abated since, and the greenback's allure on the session is fading.

10-year yields are down 1 bps to 1.595% after having pushed to 1.614% earlier.

Meanwhile, EUR/USD is up to the highs for the day at 1.1945 as price looks to shake off the key hourly moving averages:

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The pair has been hugging the key near-term levels since the start of the week but buyers are trying to seize near-term control now on a push above the 1.1925-39 region.

That said, gains still appear rather limited around 1.1961-67 before getting to the 38.2 retracement level @ 1.1991 and the 1.2000 handle.

Those will be potential upside levels to watch post-FOMC with large expiries also seen on either side of the current spot price at 1.1900 and 1.2000 for Thursday.

For the time being, the dollar is just trading rather mixed and choppy as the market continues to wait on the Fed for further direction. US retail sales data later may offer something but I would expect lighter volumes to prevail still until the FOMC meeting.

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