Dollar is trading with a soft tone today, as focus turns to FOMC rate decision. Another 75bps hike is widely expected and Chair Jerome Powell is not expected to deliver any dramatic comments. Traders would likely come back after the event risk is cleared. In the currency markets, Euro is staying under much pressure on gas crisis but Sterling and Swiss Franc are not bothering too much. Commodity currencies are losing some upside momentum, but remain the relatively stronger ones. Technically, 1.0118 minor support in EUR/USD is the main focus today. It's so far resiliently holding on to the level despite broad based Euro selloff. But firm break there will argue that rebound from 0.9951 has completed. More importantly, larger down trend would likely be ready to resume through 0.9951 low. This time, if happens, EUR/USD should trade below parity for a longer while before bottoming and reclaiming the psychological level. In Asia, Nikkei rose 0.22%. Hong Kong HSI is down -1.04%. China Shanghai SSE is up 0.13%. Singapore Strait Times is up 0.02%. Japan 10-year JGB yield is down -0.0058 at 0.204. Overnight, DOW dropped -0.71%. S&P 500 dropped -1.15%. NASDAQ dropped -1.87%. 10-year yield dropped -0.033 to 2.787. | 