Dollar juggles as Fed officials support higher-for-longer
EURUSD is trading near 1.0850 in a tight range as the US Dollar stabilizes ahead of the FOMC Minutes and preliminary S&P Global PMI data. ECB policymakers are considering extending the rate-cut cycle, while Fed officials are emphasizing the need to maintain a restrictive policy framework. US inflation declined in April, and policymakers want to see more good inflation data before making any changes to monetary policy. Fed Vice Chair Barr and Atlanta Fed President Bostic both expressed the need for more time to be certain that inflation will reach the 2% target.