The euro inched up to $1.0235 but was hemmed in by uncertainty over Europe’s energy security which is not helped by a looming cut in the westbound flow of Russian gas.The Fed concludes a two-day meeting on Wednesday. Traders have been dialling back expectations as markets try and figure out if or when policymakers might pause their inflation-fighting efforts because there are signs the economy is starting to slow.
A profit warning from Walmart on Monday, which said customers were tightening their belts, was the latest sign that the going is getting tough, coming on the heels of a handful of softer-than-expected US and European data prints.The Aussie at $0.6959, was just below its 50-day moving average as traders waited for Wednesday’s inflation data release.