Source: ForexYard. The euro saw very mild gains against the US dollar and Japanese yen during trading yesterday, as investors remained cautious about going overly bullish on the common-currency ahead of an ECB policy meeting on Thursday.

"If they don't start another round of stimulus now they will give a clear signal that something is planned in the near future, most likely September when they meet again.

Wed, Aug 1 2012, 08:22 GMT by Erste Bank Bond Research Team - Erste Bank | View company's profile. Vote up: 0 Vote down: 0. Share RSS.

MINYANVILLE ORIGINAL The US Dollar Index is pulling back for a second time this month after breaking out to fresh new highs, and it certainly seems like someone wants to fade this rally!

USD_Index_At_Critical_Juncture_Going_Into_August_AUD_Rally_To_Fizzle_body_ScreenShot014.png, USD Index At Critical Juncture Going Into August, AUD Rally To.

Price action has been tepid thus far on Tuesday while the risk landscape has been slightly positive, giving way to further gains by the Australian Dollar and the Euro.

So, will the FOMC act in a decisive, FX moving manner? Consensus on the outcome is certainly hard to come by amongst big-name analysts this morning.

The Dollar Index was steady around 82.80. EUR/USD initially slipped from 1.2298 to 1.2225 but trimmed losses to 1.2255 in early Asian trade.

The President of the ECB took advantage of a conference to whet the appetite of the market, prompting other European leaders to follow him, as a busy macroeconomic week begins.

U.S. Dollar Summer Q3 Forecast Part 1: 8 Reasons To Be Bullish. July 29, 2012 by: Cliff Wachtel | includes: FXA, FXB, FXC, FXE, FXF, FXY, JYN, SZE, UDN, UUP.