It started with some selling in the euro but as that deepened, it is turning into a broader bid for the dollar and the yen in European trading at the moment. EUR/USD has tumbled to a low of 1.0125, down 0.7% on the day, while GBP/USD has fallen from a high of 1.2190 to 1.2110 during the session.

Elsewhere, USD/CAD has erased losses to turn flat at 1.2825 now after briefly slipping below 1.2800 and we are also seeing AUD/USD fall lower by 0.2% to 0.6975 at the lows for the day after attempting to push above 0.7000 earlier. Those are key levels as highlighted in the post earlier here.

It looks like dollar buyers are showing some appetite as the post-FOMC rumblings continue, but just be wary that we do we have US Q2 GDP data to come later today and that could be a market mover in its own right.

This article was written by Justin Low at www.forexlive.com.