DXY is steady at 97.64. WTI last trades......>

DOLLAR: DXY is steady at 97.64. WTI last trades ~$0.30 higher, with gold unch.

- BBG cited sources who said that U.S. President Trump's legal team has

investigated options of removing Jerome Powell as Fed Chair. Elsewhere,

yesterday brought headlines stating that the U.S. and China are set to resume

trade talks, while their respective Presidents will meet at next week's G20.

- Having edged lower through yesterday's Asia-Pac session, the dollar index

rallied in the European morning as dovish comments from ECB Pres Draghi damaged

EUR. As a reminder, Draghi said that rate cuts remain in the ECB's toolkit,

while additional stimulus may be needed if outlook fails to improve. DXY then

gyrated through the rest of the day, posting a knee-jerk spike lower on

headlines re: demoting Powell.

- Bears look to the 50-DMA & 21-DMA, located at 97.51 & 97.43 respectively.

Bulls target the May 3 peak at 97.80, ahead of the psychological 98.00 barrier.

- U.S. focus today turns to the FOMC monetary policy decision & subsequent

presser with Fed Chair Powell, with markets setting the Fed a particularly high

bar to avoid disappointment.