The dollar is slightly weaker against the pound and the euro this morning. This comes ahead of a slew of economic data releases this afternoon, including mortgage and crude oil figures.
The main event this week, however, will be the release of US inflation data on Friday. Inflation is predicted to have stayed the same year-on-year in May and core inflation is predicted to have decreased slightly.
Balance of trade figures were released for the US yesterday, showing that trade deficit in the US narrowed to a four-month low of $87.1 billion in April from a record of $107.7 billion in March. Exports increased to a record high, whilst imports declined.
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