N.Y. FX Outlook: The dollar looks likely to remain on a neutral footing
N.Y. FX Outlook: The dollar looks likely to remain on a neutral footing after recouping earlier moderate losses against the euro and some other currencies. Earlier gains in EUR-USD stalled at 1.1187, shy of the 1.1200 level, which is a key option level while and also marking trend resistance. USD-JPY looks set to trade out the week in the low 111.0s. Sterling is firmer on the day, though remains lower on the week, and analysts expect the overall bias to be lower into next week's UK parliamentary vote on the minority government's proposed legislative agenda. Today's U.S. calendar features Fedspeak from Bullard, Mester, and Powell, along with May new home sales and the Markit manufacturing and services PMIs. Canada releases the May CPI report, which analysts expect to slow to a 1.4 y/y from 1.6%.