The Fed's two-day meeting this week will be in focus as investors seek indications of the trajectory of interest rates.

Global equities hover, $A reverses

Investors appear keen to wait for Janet Yellen to offer her take on the outlook for US rates. $A retreats on China worries. RBA minutes ahead.

The market-implied probability the Fed will increase its benchmark at last once this year is about 77 per cent, futures ...

Fed on hold until December

Morgan Stanley has cut its Treasury yield forecasts for 2016 and said the central bank will wait until December to raise interest rates.