Dollar Weakens Before Fed Announcement Tomorrow!

The Dollar was weak throughout the North American session based primarily speculative trading. Many analysts are pointing to the close-out of long Dollar trades ahead of a busy week of data. Tomorrow's key event will be the Fed commentary, with rates widely expected to rise .25% to 4.25%. As the peak rate approaches (4.5% or 4.75%), many are keen to hear the new Fed language. Their statement is unlikely to contain the phrases "accommodative" or "measured pace."