Daily Morning Report 25.07.2017

The dollar remained under pressure Tuesday amid concerns about the Trump administration as the FOMC meeting starts.

The dollar index was off 0.16% at 93.67 at 02:30 ET, off a high of 93.91.

The Trump administration remains mired in the probe into alleged Russian meddling in the U.S. 2016 presidential race.

Trump’s son-in-law Jared Kushner Monday said he had met Russian officials but denied any collusion to sway the outcome of the election.

The Fed is expected to stand pat on rates but may give further signals on plans to reduce its bond holdings.

The dollar index was depressed by a firm euro, which held around the mid- $1.16 mark.

Elsewhere the pound was also steady against the greenback at above $1.30 mark.

The dollar was also under pressure against the yen, trading below the 111 handle.