• Ether traded close to flat Wednesday ahead of the Fed's meeting result

• The US dollar and Ether typically have a positive correlation with each other

• The correlation fell apart after the dollar rallied sharply off May's low

• Since mid May the US$ has fallen but Ether held steady & consolidated gains

• If the correlation reasserts itself Ether could be in store for a big move

• Fed meeting risk looms, if no dovish lean emerges the US$ may rally sharply

• Ether may then end its consolidation if the positive correlation takes hold

• The up trend off the April monthly low may then resume
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)