Forex Today: Major currency pairs stay in familiar ranges, eyes on German inflation

Here is what you need to know on Wednesday, May 29:

Major currency pairs are having a difficult time finding direction in the first half of the week. Following Tuesday’s modest rebound, the US Dollar (USD) Index hold steady slightly above 104.50. Later in the day, Consumer Price Index (CPI) data from Germany will be watched closely by market participants. During the American trading hours, the Federal Reserve (Fed) will release its Beige Book.

The upbeat consumer sentiment data from the US, combined with a nearly 2% increase seen in the 10-year US Treasury bond yield, helped the USD stay resilient against its rivals on Tuesday. Early Wednesday, the 10-year US yield holds steady above 4.5%. Meanwhile, US stock index futures trade in negative territory after Wall Street’s main indexes registered small gains on Tuesday.

US Dollar PRICE This week

The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the Japanese Yen.

USD   -0.08% -0.24% 0.05% -0.09% -0.43% -0.43% -0.27%
EUR 0.08%   -0.19% 0.17% -0.01% -0.42% -0.44% -0.16%
GBP 0.24% 0.19%   0.30% 0.15% -0.23% -0.19% 0.01%
JPY -0.05% -0.17% -0.30%   -0.18% -0.50% -0.41% -0.34%
CAD 0.09% 0.00% -0.15% 0.18%   -0.37% -0.34% -0.23%
AUD 0.43% 0.42% 0.23% 0.50% 0.37%   0.06% 0.21%
NZD 0.43% 0.44% 0.19% 0.41% 0.34% -0.06%   0.16%
CHF 0.27% 0.16% -0.01% 0.34% 0.23% -0.21% -0.16%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

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