Here is what you need to know on Tuesday, May 28: The US Dollar (USD) is having a hard time finding demand early Tuesday after weakening modestly against its major rivals on Monday.
Here is what you need to know on Tuesday, May 28: The US Dollar is having a hard time finding demand early Tuesday after weakening modestly against its major rivals on Monday.Housing Price Index for March, Conference Board's Consumer Confidence Index and Dallas Fed Manufacturing Business Index for May will be featured in the US economic calendar later in the day. Several Federal Reserve policymakers are scheduled to deliver speeches during the American trading hours.
USD/JPY showed no reaction to these figures and was last seen moving sideways slightly below 157.00. Japanese Yen receives pressure after Japan's Weighted Median Inflation shows slowdown. Following a quiet European session, EUR/USD stretched higher in the American trading hours on Monday and ended the day in positive territory. The pair holds its ground early Tuesday and was last seen trading above 1.0870. GBP/USD gained 0.25% on Monday and advanced toward 1.
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