The euro and the British pound gained due to Europe’s peace efforts in Ukraine, while the Canadian dollar and Mexican peso rose on potential tariff relief. Bitcoin surged as U.S. President Trump announced its inclusion in a new cryptocurrency strategic reserve plan.
US inflation tops 4% for first time in three years, keeping Fed hike in play
US inflation climbed to 4.1% in May, driven by rising energy prices, keeping the Federal Reserve’s interest rate hike plans on the table for September.