The markets are largely biding their time, waiting to see whether Fed Chairman, Ben Bernanke, will signal a change of course. He's talking to Congress about America's economic outlook on Wednesday evening. Later, the FOMC releases minutes of its most recent policy meeting.
Mads Koeford, Head of Macro Strategy at Saxo Bank, doesn't expect any changes until at least next year. He thinks the US unemployment level's too high and inflation's not an issue.
So if there's no change, expect equities to be supported and the dollar to remain relatively weak. 
For more from Mads Koefoed on TradingFloor.com, visit http://www.tradingfloor.com/traders/mads-koefoed