Dollar should not yet waiting for pleasant surprises from the Fed

After an impressive rally, the dollar shows a local correction against the major currencies. The euphoria of the bulls over the yield growth of the bonds faded - the yield indicator of 10-year securities has moved away from the highs of four years ago, although it is held near the 3% mark, keeping the American currency from a more significant drawdown.
In the wake of the rally in profitability, the expectations of four Fed rate increases this year instead of three were returned to the scene. Next week, the Fed will hold a meeting, but changes in monetary policy are not expected this time. The danger for the dollar in the context of this event is that recently the market's belief in more active policy tightening has significantly strengthened. Accordingly, players will expect more aggressive rhetoric from the regulator.
However, the Central Bank can still take a wait-and-see attitude and refrain from premature "hawkish" signals, so as not to run ahead. Moreover, the situation in foreign policy is not at all smooth, and, given Trump's unpredictability, new conflicts can await ahead.
However, at this stage, the chances for a peaceful resolution of trade contradictions with China are growing. China today urged Washington not to aggravate their trade relations. Next week, US Treasury Secretary Stephen Mnuchin and several other White House officials will travel to China to negotiate trade. If there are encouraging statements from this front, this will support both interest in risk and the dollar.