The dollar was broadly lower to start the N.Y. week, likely as the market prices in a pushed back FOMC rate lift-off. While few expect a rate hike at the next meeting in June, due to recently soft U.S. data, there has been growing expectations for a Autumn, or even a 2016 start to normalizing rates. As a result, dollar sellers stepped up today, looking for a more dovish Fed outlook. EUR-USD cleared 1.0900 to post three-week highs of 1.0926. as USD-JPY briefly at least, gave up the 119 handle.
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