even as traders squared positions ahead of Tuesday's Federal Reserve Bank Meeting. "The market will be like this for the next 20-odd hours," said one New York trader, commenting on the lack of interest in currency markets on Monday afternoon. John McCarthy, director of foreign exchange at ING Barings in New York, thought a 25 point cut might be confusing for the market. "Some people might come and buy the euro-dollars on that, but any rally should be short-lived," McCarthy added. He agreed that a 50 basis point cut would drive the dollar higher, with the market's belief that a pro-active Fed should mean stronger U.S. growth ahead.