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The U.S. Dollar is trading mixed ahead of today’s 2 PM Fed decision, with markets expecting continued rate cuts but bracing for potential hawkish commentary from Chair Powell that could spur treasury volatility and lift the dollar. Trade sentiment improves ahead of a South Korea meeting between Presidents Xi and Trump, with talk of a finalized deal, reduced Chinese tariffs on pharmaceuticals, and potential Nvidia chip sales to China, while the ECB meets Thursday. The British pound weakens on budget and productivity concerns with rising odds of a Bank of England cut, and the Canadian dollar rebounds to late-September levels as markets await a potentially hawkish-leaning Bank of Canada decision.
