The dollar has weakened slightly against the pound and the euro ahead of today’s US inflation figures.
Due to be released later this afternoon, economists have predicted a slight fall in inflation from last month’s figure of 8.5%.
Speaking yesterday, Federal Reserve official Rapheal Bostic suggested that the Fed’s strategy of half point interest rate rises will work for the next two or three meetings, but after this, will need to be assessed. Bostic is due to speak again today.
Tomorrow we will see PPI figures released for April, along with initial jobless claims figures. Both are expected to fall.
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