Dollar Stabilizes Ahead of Today's FOMC Decision

The markets are discounting the odds at 3% for a -25 bp rate cut at the conclusion of today's FOMC meeting.The risk of another partial US government shutdown is also weighing on the dollar. Senate Democrats threatened to block a government funding deal over Department of Homeland Security/ICE funding after the ICE shooting of an ICU nurse in Minnesota on Saturday. There could be a partial government shutdown when the current stopgap funding measure expires this Friday. In addition, the dollar is being under ...