Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
Federal Reserve Faces Subpoena Delay Amid Investigation Into Chair Jerome Powell 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
BOJ Rate Decision in Focus as Yen Weakness and Inflation Shape Market Outlook 
MAS Holds Monetary Policy Steady as Strong Growth Raises Inflation Risks 
RBA Expected to Raise Interest Rates by 25 Basis Points in February, ANZ Forecast Says 
FxWirePro- Major Crypto levels and bias summary 
Delay in FED hike and sharp drop in expectations, which now is forecasting first rate hike close to middle of next year is creating headache for European Central Bank (ECB) and Bank of Japan (BOJ) policymakers.
Latest developments in US, started with no rate hike from FED in September, followed by weaker job gains in September that followed weaker than expected retail sales led to sharp pull back in rate hike expectation and drop in Dollar.
Many of the market based indicators are pointing that Dollar might weaken further after this month's FOMC policy decision which is very much likely to sound dovish.
With weak Dollar, since it touched 100 mark (dollar index), both Euro and Yen gave gained against Dollar.
Euro has gained more than 900 pips from its recent low against Dollar while Yen is suffering heavy volatility due to rising risk aversion. Yen is up more than 700 pips against Dollar so far. Euro is currently trading at 1.137 against Dollar and Yen at 119 per Dollar.
This relatively higher rate is feeding into low inflation and reducing the advantage of lower exchange rates.
