It has been a quiet start to the week for....>

DOLLAR: It has been a quiet start to the week for the dollar which has drifted

slightly lower this morning. We appear to be challenging A short-term triangle

formation seems to be forming with a base around current levels of 96.40 and

resistance on a sharply declining trend, currently around 96.60. A break of the

triangle would see technical target of either a move back up to the Mar7 high

around 97.70 or to the Jan31 low around 95.20.

- The calendar is quiet today with the NAHB housing index the main data

highlight of the day and no Fed speeches as we are in the blackout period ahead

of Wednesday's rate announcement and press conference. The Fed's balance sheet

policy will be in focus, while the Staff Economic Projections will also be key

as the market looks for a better grasp on medium-term Fed policy.

- External factors, with Brexit the most prominent, are also likely to drive the

global risk environment and the dollar this week. Weekend press reports have

suggested it is unclear whether another meaningful vote will be held this week

with the expectation that a vote will only be held if the DUP and enough Tory

MPs will vote in favour of May's deal.