Dollar stays on the backfoot to start the session ...Middle East

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Dollar stays on the backfoot to start the session
The dollar sold off after the FOMC meeting yesterday, as Fed chair Powell let the doves out to play. Policymakers also retained the dot plots view for this year, reflecting 75 bps worth of rate cuts. That was enough to trigger a straightforward reaction in markets in the aftermath.In FX, the dollar fell across the board and that continued into Asia trading earlier today. But now, we're seeing the dollar steady slightly as we look towards European trading. The greenback is little changed against the likes of the euro, yen, and pound as it recoups some of its earlier losses. It is mostly down against the commodity currencies only at the moment.EUR/USD is up just 0.1% to 1.0927 as we await PMI

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