The dollar and euro were little changed on Monday as traders await decisions by ...
The dollar moved lower in step with U.S. yields. The two-year Treasury yield US2YT=RR slipped to 1.801% early on Monday, which was below the Fed’s current target range of 2.25%-2.50% USFOMC=ECI on short-term rates.
U.S. rates futures implied traders positioned for a 23% chance the U.S. central bank may lower its rate range by a bold half point at its July 30-31 policy meeting, compared with 24% late on Friday, according to CME Group’s FedWatch tool.
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