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Big risk events will set the course for the dollar this week. The main day will be Wednesday when U.S. first quarter growth is due and forecast to slow to a 1 percent annual rise from a 2.2 percent increase in the final quarter of 2014.
Later that day, at 2 p.m. ET, the Fed will render its decision with a policy statement. What the Fed makes of the economy's performance of late and what it suggests about the outlook for an interest rate hike will help set the tone for the dollar at least until the next nonfarm payrolls report comes due on May 8.
Improvement is on the cards for U.S. data on consumer confidence on Tuesday, personal spending on Thursday and the ISM manufacturing index on Friday.
