Euro and British pound forecasted to maintain positive momentum versus the US dollar

The US dollar is tipped to feel the pressure today with foreign exchange markets expected to maintain a calm ahead of the Fed meeting later this week.

While the euro and British pound have recent momentum to guide them higher we don't expect any fireworks:

"Investors are unlikely to take heavy positions in advance of the Fed and SNB meetings later this week and, given the light agenda, FX majors are likely to trade sideways, provided stocks do not become too nervous," UniCredit Bank tell clients.