Dollar Rally Pauses Ahead of Fed Decision

The euro is hovering just above its lowest level in a month against the US dollar at around 1.1350.

This comes as the dollar's rally pauses ahead of the Federal Reserve's two-day policy meeting that begins on Tuesday.

A break below the key support level of 1.1350 could signal further losses for the euro, potentially leading to a test of its January low near 1.1200.

The Fed's decision and Chair Jerome Powell's press conference will be closely watched by traders on Wednesday, with markets expecting the central bank to hold interest rates steady at 4.25%-4.50%.