Dollar May Await Fed Before Leaning Into Trend, But USDCNH Is Actively Dropping

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Dollar, USDCNH, Pound, S&P 500 Talking Points:

• Risk trends were still holding a cross-market correlation, but the picture of tempo was summed up in the S&P 500’s fourth bullish gap without progress
• The Dollar’s recovery has been cut short with EURUSD and GBPUSD building pressure; but through a myriad of fundamental issues the FOMC looms
• USDCNH is the most intriguing pair with a fresh dive to year-and-a-half lows and a fundamental story that no doubt reflects serious trade tensions

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