Dollar Cautious ahead of FOMC, Euro Resilient Dollar ended the week as the second weakest major currencies as traders cautiously await next week's FOMC meeting. Fed will most certainly keep policies unchanged. Markets are generally anticipating a September rate hike from Fed but there is low expectation on guidance on the timing. The main focus would indeed be Fed's updated economic projections and vote. Recent data from US were generally positive, pointing to a solid rebound in Q2. The revisions in economic projections will give much hints on how confidence the Fed is regarding the sustainability of the rebound. And, that such projections would start will have a notable impact on the rate path beyond the first hike. Meanwhile, the case of September hike would start to be solidified if one or two Fed hawks start to vote for rate hike in the meeting. So far, investors seemed to be unwilling to bet on either side yet. Full Report Here... | 
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