Gold has dipped back below the $1000 level ($999.50) and oil has dipped below $70 intraday. Equities are off their worst levels but remain under pressure as the dollar makes a moderate rebound after weeks of concerted selling. There appears to be some caution ahead of this week’s FOMC meeting as the Fed scales back some of extraordinary intervention in the markets a year after the crisis intensified post-Lehman.
EUR/USD is consolidating losses at 1.4630 after a dip as low as 1.4612. Look for for offers now on rebounds to the 1.4740 area.
