Equities are range-bound ahead of the a Federal Reserve policy meeting, but the expectation the central bank might strike a dovish tone provides support
An investor watches a board showing stock information at a brokerage office in Beijing, China. REUTERS/JASON LEE
All three major US indexes rose overnight, lifted by the bank and tech sectors, with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite adding between 0.3% and 0.4% each. Investors will particularly look to see whether policymakers have sufficiently lowered their interest rate forecasts to more closely align their"dot plot", a diagram showing individual policymakers' rate views for the next three years.
In the currency market, the pound found firmer footing on Tuesday after slipping to as low as $1.3183 overnight as MPs cast doubt on Prime Minister Theresa May's third attempt to get parliament to back her Brexit deal. Meanwhile, senior diplomats said the EU leaders could hold off making any final decision on any Brexit delay when they meet in Brussels later this week, depending on what exactly May asks them for.
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