CMS Forex - The dollar was mostly lower against key currencies on Monday ahead of the Federal Open Market Committee's interest-rate decision tomorrow. The yen was weak on higher global equity prices. The euro was supported by European Central Bank officials' hawkish comments. We believe the Fed will certainly cut its benchmark interest rate by 25 basis points tomorrow. The probability for a 50 basis-point cut fell below 50% with the release of the employment report; now it is about 30%.
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