Bitcoin retreated ahead of a widely expected interest-rate reduction by the Federal Reserve, a looming policy change due later this week that has global markets on edge.

The U.S. dollar fell to a more than one-year low versus the yen on Monday, as expectations increased that the Federal Reserve could deliver a supersized cut to interest rates later this week. The Fed had been widely expected to announce at least a 25-basis-point cut to interest rates at the conclusion of its Sept.

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