As Francesco Pesole outlined on Friday, last week's dollar sell-off had indeed come a little too far, a little too fast, and Friday's bounce was understandable. Helping that was a shift in expectations for the 10 December FOMC meeting, where the probability of another 25bp cut is now priced at around 50%. Presumably, the Federal Reserve is far happier with that kind of pricing, given the lack of available data currently. This also means that the dollar may not have to rally too far on Wednesday evening's event risk of the FOMC minutes of that 28-29 October policy meeting. Remember that was the meeting where Chair ... (full story)