Despite the weaker Dollar and greater demand for higher risk assets, the December E-mini S&P 500 failed to break through last week’s high at 1112.25, stopping at 1111.50. The December E-mini NASDAQ also failed to make a new high.

The December Dow and December S&P 500 are trading weaker at the midsession as trader shy away from risky assets ahead of this week’s Fed FOMC and G-20 meetings.

Both the September Japanese Yen and September Euro are in the spotlight today. Both are being affected by the same news but both are moving in opposite directions versus the Dollar.

Traders are calling for a higher opening in the September British Pound this morning. Overnight strength in European and Asian equity markets is helping to increase trader demand for higher risk assets.

The September Swiss Franc is called flat this morning based on tight overnight trading. This should come as no surprise because this market has been in a tight range for several weeks.