Economists at ING analyze EUR/USD outlook ahead of the Fed meeting.

Dollar could get a lift from hawkish Fed script

With the market positioning itself for a cyclical Dollar sell-off over coming months and quarters, we suspect another reading of the hawkish Fed script could send the Dollar a little higher. 

Clearly, fireworks are not expected, but EUR/USD could dip back towards the 1.1050 area on the Fed event risk.