The hurricane has been upgraded to a four, similar to Katrina, so that is preying on people's minds particularly if it hits areas with some key strategic oil facilities,

Investors are reluctant to take the dollar significantly higher and we are having thin markets. The market still prefers to sell the dollar on rallies.

From a yield perspective, the pound is looking attractive as the trend appears to be to buy yield. For now, the pound is likely to remain strong on uncertainty over the outlook for U.S. rates.

Technically a lot of damage has been done to the dollar but yesterday's failure to break through new levels has helped the dollar,

The trade surplus didn't narrow as much as people had been expecting so that's going to help the yen. The data coming out of Japan is looking pretty robust. So that's going to help the yen.

The statement was slightly more hawkish than we were expecting but there was one vote of dissent,