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The dollar is holding firmer to start the new week, as the selloff in Chinese stocks is seeing the yuan fall against the greenback and the more risk-off mood there is keeping the dollar slightly underpinned ahead of European trading.
That said, the mood elsewhere is reflecting more calm and steadiness with US futures keeping close to flat levels while Treasury yields aren’t running away – at least for now.
Essentially, we’re all just grinding towards the FOMC meeting on Wednesday. So, make sure to get your Fed caps ready as we navigate through the sessions ahead.
For today, Europe is likely to be a more quiet one as the market looks to position itself ahead of the Fed with little else on the agenda to kick start the new week.
What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.