The Federal Reserve kept its monetary policy settings unchanged for the fifth consecutive meeting and signaled its intention to deliver 75 basis points of easing this year, the same outlook embraced back in December.

The yen failed to halt a selloff that gained momentum after the dovish hike from the Bank of Japan. USD/JPY remains vulnerable, particularly if the Fed foresees fewer cuts ahead

UK inflation fell to the lowest level in over two years in February, helped by falling food prices. GBP/USD is little changed as the latest Fed policy decision nears.