Asian currencies are in pause mode, consolidating positions as traders hold their breath. The reason? All eyes on the Fed's next decision. Currency markets in Asia are showing cautious sideways moves, with traders avoiding taking large positions before knowing the direction the Fed will take. This kind of behavior is typical when a FOMC meeting is coming up — no one wants to be on the wrong side of an interest rate surprise. Volatility is contained for now, but that could change in a matter of hours once the official statement comes out.