Bank of America previews today's April FOMC meeting and USD likely reaction around the meeting.

"The Fed will remain firmly on hold at its April meeting.  We anticipate only one dissent.Chair Powell should sound hawkish in what will probably be his last presser. 

The April FOMC is unlikely to be a major event for the USD, but risks skew marginally bullish, to the extent that Chair Powell reiterates his more hawkish tone from March," BofA notes.

"In terms of any forward guidance any revealed discussion of hikes would be a surprise, likely sparking a USD rally. On the other hand, denying any material discussion took place could weigh on the USD slightly," BofA adds.