Daily digest market movers: US Dollar remains soft ahead of FOMC
- US Dollar remained weak ahead of the FOMC meeting, with the market pricing in a nearly 70% chance of a 50 bps rate cut.
- FOMC is expected to cut rates by 25 bp, but a 50 bp cut is also possible.
- New Dot Plot will be closely watched for signs of a dovish shift in the Fed's policy outlook.
- US Dollar is likely to weaken if the Fed cuts rates by 50 bps and signals a more dovish stance.
- Powell’s presser will also be closely followed for further clues.
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