By Cornelius Luca
New York, June 25 (BridgeNews) - The U.S. dollar opens the week on a soft note as traders have started to adjust positions ahead of Wednesday's Federal Open Market Committee policy meeting, which is expected to bring at least a 25- basis-point cut in an attempt to jumpstart the sagging economy. The euro advanced to a one-week high of 86.25 cents, while the dollar edged lower against the Japanese yen.
* * * Euro's gains occurred in spite of Friday's new evidence from the German Ifo economic institute that the euro-zone economy was deteriorating.
One day after peaking at 1.4188, sterling/dollar edged higher but remained so far within Friday's range. Meanwhile, dollar/Swiss franc and dollar/Canada extended recent losses to mark 10-day lows of 1.7627 and 1.5195, respectively.
With no domestic economic indicator scheduled for release Monday except for the existing home sales, the intraday outlook for the dollar versus its main counterparts is slightly bearish.

Current Previous Change Global Global
NY open NY close low high

USD/JPY 123.92 124.47 -0.55 123.92 124.50
EUR/USD 0.8621 0.8575 0.0046 0.8564 0.8625
EUR/JPY 106.86 106.74 0.12 106.45 106.98
GBP/USD 1.4150 1.4128 0.0022 1.4120 1.4173
USD/CHF 1.7640 1.7733 -0.0093 1.7627 1.7735
USD/CAD 1.5204 1.5225 -0.0021 1.5195 1.5232
AUD/USD 0.5179 0.5164 0.0015 0.5164 0.5183
NZD/USD 0.4130 0.4126 0.0004 0.4119 0.4142
SP.1 1236.50 1.50 1231.30 1238.10
ND.1 1760.00 7.00 1743.00 1762.00