It is a calmer start to the new day as we start to settle into a bit more of a push and pull before the FOMC meeting next week. Equities observed a positive start yesterday only to falter by the end of the day as the storm clouds dampened the mood.

The dollar is off to a slow start on the week but we are seeing some key levels hold with EUR/USD backing away from 1.0200 and GBP/USD away from 1.2000. That reaffirms the narrative that dollar bulls are still in the picture for now. As for USD/JPY, be wary of large option expiries at 138.00 today, so that could keep price action more anchored.