The dollar weakened toward its lowest level since February 2022 as the Japanese yen strengthened. Still, currency moves stayed broad-based. The euro rose 0.8% to $1.1975. Meanwhile, the pound gained 0.6% to $1.3767, and the yen rose 0.8% to 152.99 per dollar.
Treasuries moved modestly ahead of the Fed decision. The 10-year Treasury yield rose one basis point to 4.22%, while the two-year yield slipped one basis point to 3.58%. Meanwhile, the 30-year yield rose three basis points to 4.83%.
Commodities and crypto traded higher. West Texas Intermediate (WTI) crude rose 1.8% to $61.75 a barrel, while Bitcoin rose 0.4% to $88,344.99. Ether gained 1.4% to $2,968.67. Meanwhile, traders also digested tariff signals after Trump said he planned a 25% tariff on South Korean goods.
Meta, Microsoft, and Tesla are due to report earnings after the close on Wednesday, with Apple reporting on Thursday. Many large companies report this week. Traders will watch whether results keep the S&P 500 record high theme intact.