FX Trading focus: FOMC: Powell set to push back against market’s complacent expectations, but will need to pull a big surprise to get respect unless data conveniently strong. SEK pain continues despite normally supportive backdrop – what gives? Please refer to the FOMC, ECB and Bank of England previews in the latest excellent piece from Charu Chanana, our strategist in Singapore Charu. We are mostly on the same page and I don’t have much to add to her thoughts. One key consideration, however, both for what the Fed and Fed Chair Powell actually deliver today in the monetary policy statement and the press conference, ... (full story)