The dollar traded higher from 6 week lows versus majors as investors look into the FOMC statement later on during the week. The sterling took a 1.5% plunge versus the dollar, leading the losers versus the dollar after another setback in the ongoing Brexit saga this time a new referendum on the Brexit being on the table for the Labor party. Most other FX markets traded in narrow ranges as did global equity markets that traded lower from all time highs in the US. Metals traded lower on a stronger dollar while OIL traded mostly higher to close above 71$ per barrel on supply worries as the sanctions against Iran take place and tight US inventories.
ECB President Draghi speech at 2 pm is the important news on the agenda Monday.
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