USD review

Western Union:

The latest look at U.S. inflation was both dollar- and customer positive. Standing in the way of an imminent Fed rate hike is healthier U.S. inflation. The latest number offered progress with core consumer prices unexpectedly rising 1.8% annually in April. 

The uptick in inflation will pull forward market expectations of higher U.S. interest rates from later in the year which is favorable news for customers that benefit from a strong dollar. 

Market uncertainties remain high with another risk event seen hours away when the Fed chair speaks on the U.S. outlook at 1 p.m. ET.