Another mind numbingly boring night in FX markets as Japan remains closed for Golden Week holidays while everyone else awaits the FOMC rate announcement later today. Yesterday, dollar bulls received an unpleasant surprise as ISM Manufacturing printed at 53.3 versus 55 expected. In all fairness manufacturing numbers from across the G-7 have been very weak. Tonight's UK CIPS Manufacturing report is a case in point. The survey registered a reading of only 49.5 versus 51.5 expected recording the first contractionary result in over 2 years. Nevertheless, the disappointing ISM numbers disrupted the carefully planned assault on yearly lows in the EUR/USD by the dollar longs yesterday and tonight's PPI data from the Euro-zone, along with a downward revision in EU employment rate to 8.8% from 8.9% provided just enough good news for euro bulls to push the currency higher by about 40 points.