The focus in the currencies market is on the FOMC meeting later this week while it is highly expected in the markets that the Feds will leave interest rates steady of zero to 0.25 percent. Today the markets are calm as there were lack of major economic data that yet we see the dollar is climbing in the markets as a result of correctional movements since it was trading in the lowest in nearly a year.

The euro is seen depreciating versus the dollar but not because of its weakness yet because of the dollar's strength as a result of the correctional movements. The EUR/USD is being traded at 1.4649 while recording a high of 1.4712 and a low of 1.4610. The volumes indicator on the one-hour chart is showing us there is weak volume in the markets while there is a support at 1.4612 and a resistance at 1.4656.

The pound versus the dollar is currently trading in narrow ranges as the UK today did not release economic data while the attention remains later this week as the Bank of England will release their minutes in which they state why they continued with their APF program while why they left interest rates steady. The GBP/USD is being traded at 1.6188 between the support of 1.6146 and the resistance of 1.6208 while the pair recorded a high of 1.6263 and a low of 1.6132.

Today the markets in Japan are closed for the Respect for Aged Holiday as the yen also like major currencies is crippled versus the federal currency as the pair is being traded at 95.25 between the support of 91.90 and the resistance of 92.55 while recording a high of 92.52 and a low of 91.29.