The dollar weakened slightly Tuesday as markets expect a higher inflation print.
The dollar weakened slightly against the Japanese yen Tuesday to 109.26 yen as markets expect a higher inflation print. The greenback's easing comes after hitting a two-month high of 110.325 to the yen last week.The U.S. added fewer jobs than expected in May, but the unemployment rate dropped to 5.8% from 6.1% and markets reacted positively.
May's NFIB Small Business Optimism Index will be released Tuesday. The index, published by the National Federation of Independent Business, gauges the health of America's small businesses, which make up about 50% of the country's private-sector workforce. The index's reading in April, at 99.8, was the highest level since December though still below the pre-pandemic average.
In politics, several leading U.S. Senate Republicans on Monday rejected Treasury Secretary Janet Yellen's recently agreed G-7 deal to levy a global minimum tax on corporations, casting a shadow over the possibility of achieving a wider deal with more countries.
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