The market had been gradually pulling back from expectations of a 50 bps cut by Federal Reserve this week. The Euro and Sterling tested technical levels near 1.10 (EUR/USD) and 1.30 (GBP/USD) respectively. The Dollar Index reached last week’s high following the August CPI. However, the overall market tone shifted, sparked by initially by Dow Jones story that many believe was planted by a senior FED official to bring the possibility of a 50 bps cut back into play. This …