The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support.

The US Dollar (via the DXY Index) is trending higher as markets expect more taper talk at the September Fed meeting.

The Japanese Yen is eyeing the upcoming Bank of Japan rate decision and CPI figures, but JPY crosses will likely remain dependent on broader market sentiment.

The Australian Dollar remains hostage to commodity market gyrations, as low interest rates are unable to attract buyers. Will yields go higher to turn the AUD/USD around?