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Seniors displaced after Yarmouth fire | SaltWire #fire #yarmouth #seniors #newsSINGAPORE - The dollar was stable on Wednesday on wagers the Federal Reserve is unlikely to cut rates until later this year ahead of crucial inflation readings this week, while the yen drifted to its weakest in four weeks.
Data on Tuesday showed U.S. consumer confidence unexpectedly improved in May after deteriorating for three straight months, but worries about inflation persisted and many households expected higher interest rates over the next year. Market focus this week will be on a slew of inflation reports, with German inflation data due on Wednesday and the wider euro zone's reading on Friday.
"FX markets continue to mark time in anticipation of core PCE data later this week," said Christopher Wong, currency strategist at OCBC."We should continue to see 104-105 holding up until the next catalyst comes along."
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