Trading ranges narrow in run-up to Fed meeting
The dollar is edging lower against a basket of its most-traded rivals as investors focus attention on this week’s Federal Reserve meeting—and on the implications for monetary policy in 2026. Benchmark ten-year Treasury yields are parked near the 4.15-percent mark, equity futures are holding steady ahead of the North American open, and the euro, pound, and Japanese yen are all firmly rangebound amid a lack of domestic catalysts. Markets overwhelmingly expect a “hawkish cut” on Wednesday, with the statement language, dot plot projections, and Chair Powell’s words all pointing to a more gradual pace of easing in the coming months....