US dollar continues its decline as GOLD markets close
The US dollar continued its decline on Monday as risk appetite increased, buoyed by encouraging economic data and expectations that the Federal Reserve will tighten policy at a slower pace. The dollar index is on track for its first monthly decline in five months, as the currency The safe-heaven is losing steam after rising sharply earlier this year
US consumer spending rose more than expected
The dollar index fell about 1.5% in May, but is still up about 6% on the year. Trading on Monday was mild as US stock and bond markets were closed for the Memorial Day public holiday. Data on Friday showed that US consumer spending rose more than expected in April as households boosted purchases of goods and services and rising inflation slowed, while world stock markets rose on Monday thanks to easing of COVID-19 restrictions and fresh stimulus in China, helping sustain last week's rebound.