Risk of 50 bp cut by the Fed Tomorrow Keeps the Greenback on the Defensive

From marctomarket.com

With heightened expectations of a 50 bp cut by the Federal Reserve tomorrow, the dollar has not gotten a reprieve and is softer against nearly all the currencies. Japan's long holiday weekend ended, and the greenback has held above JPY140 today. It is consolidating, but against most of the G10 currencies, the dollar's losses have been extended. The Canadian dollar is the other exception amid speculation that the Bank of Canada can accelerate the pace of its cuts barring a surprise with today's August CPI report. Emerging market currencies but a few, including the Mexican peso, are a little softer. Equities are mostly ... (full story)