Here is what you need to know on Tuesday, May 14: The action in foreign exchange markets remain quiet following Monday's subdued trading. The US Dollar Index continues to fluctuate in a tight channel above as investors await producer inflation data for April and Federal Reserve Chairman Jerome Powell's speech. Earlier in the day, the European economic docket will feature ZEW Survey results for Germany and the Euro area.
0800 on Monday but erased a small portion of its daily gains in the American session to close below this level. Early Tuesday, the pair fluctuates in a narrow channel at around 1.0780. USD/JPY rose 0.3% on Monday and continued to push higher toward 156.50 early Tuesday.Japanese Finance Minister Shunichi Suzuki repeated on Tuesday that it is important for currencies to move in a stable manner, reflecting fundamentals. Headded that they will closely monitor the foreign exchange moves.
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Source: FXStreetNews - 🏆 14. / 72 Read more »