XE Market Analysis: North America – May 31, 2021

The dollar majors have been directionally unambitious with both UK and U.S. markets out for public holidays today. The yuan saw some action, however, falling back after the PBoC fixed the currency at its highest level against the dollar since May 2017. An ex-PBoC official, in an interview with the state-backed Xinhua news agency over the weekend, said that the recent rapid appreciation of the yuan is unsustainable. In data, preliminary May inflation data out of German states came in higher than expected.

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