BOE governor Bailey: Short dollar is now the most crowded trade in the marketBOE governor Bailey: UK experience on yield curve is not out of line with other marketsThe waiting game continuesFed chair Powell to speak later in the day but..Dollar weakened by drop yesterday as short squeeze loses momentumBoJ is said to leave benchmark rate unchanged next weekWhat are the main events for today?FX option expiries for 22 July 10am New York cutJapan trade negotiator says continuing to seek common ground on tariff issues with the USA limited trade deal between the US and India is reportedly ruled out before 1 AugustIt's been another sluggish session today given the lack of tier one data releases and limited newsflow. The only notable headlines were the Japanese trade negotiator saying that they keep seeking common ground on tariffs with the US and BoE's Governor Bailey mentioning that the "short US dollar" is now the most crowded trade.This is all well known stuff and obviously didn't move the markets. We keep on going on by inertia waiting for some meaningful development on the tariffs or interest rates front. For now, it's all kind of dormant.The US session will likely have the same fate given that we will just get the US Richmond Fed Manufacturing index. This is a volatile low tier indicator and rarely market-moving. There's also Fed Chair Powell speaking but given that we are in the blackout period, he won't comment on monetary policy. This article was written by Giuseppe Dellamotta at investinglive.com.