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What you need to know on Wednesday, May 26:

 It was another bad day for the greenback, although it held within familiar levels against most major rivals. The EUR and GOLD were the best performers, as EUR/USD peaked at 1.2266 its highest since January.

GBP/USD, on the other hand, eased on poor CBI sales figures, although it settled at around 1.4150. Commodity-linked currencies finished the day pretty much unchanged against the greenback.

Federal Reserve’s Vice Chairman Richard Clarida said that he took notice of the “very unpleasant surprise” resulting from April’s inflation, adding that he agrees with the FOMC Minutes that there could be a time in upcoming meetings to discuss tapering.

Inflation expectations in the US somehow cooled down, as Federal Reserve officials keep pouring cold water on expectations of a change in the current monetary policy.

The dollar fell as government bond yields declined. The  yield on the benchmark 10-year Treasury note fell to 1.56%, its lowest in two weeks. Wall Street was unable to take advantage of easing inflation concerns, with the three major indexes ending the day with modest losses.

Gold trades a handful of cents below the $1,900 level, heading firmly higher and poised to break above it. Gold remained unchanged, with WTI trading around $ 65.85 a barrel.

The RBNZ will announce its monetary policy decision early on Wednesday.

Dogecoin price consolidates while DOGE targets $1