forexinfo-forex.blogspot.com (Buenos Aires) – With Wall Street struggling just under past Friday’s close, investors remain cautious ahead of a two-day Federal Reserve meeting and following a big rally that pushed the Dow and S&P 500 to the highest levels in 9 months. Despite that, dollar continues to be the overall winner today, extending past Friday’s rally in a sentiment turn.
Traders are looking for the FED to give clues about probable rate hikes in the short term, turning back their attention to rate differentials, despite euro zone remains at 1.0%, the U.K. at 0.5% and the U.S. floating under 0.25%. Over bought particularly against European currencies, the extension of due greenback downside correction will be key: EUR/USD should remain under 1.4200 while GBP/USD under 1.6600 to favor more dollar gains for the week.
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