USD review

Not anticipating the Fed to give it much bullish fuel this week, the dollar continued drift lower. And the last time the Fed met in mid- March it took a jab at the strong dollar due to the weight it exerts on inflation and exports. 

And since the last Fed gathering, the U.S. economy has shown more signs of sluggishness. Consequently, the market expects the Fed to stay cautious on the outlook and keep a rate hike close to its vest. 

Downside risk for the dollar could be held in check though if the Fed should keep its options - and the door - open to a rate hike in the months ahead. The Fed is due to render its decision on Wednesday at 2 p.m. ET. The Fed will get to view two more monthly jobs reports before its June 16-17 meeting.