(Bloomberg) -- The dollar was little changed against the yen and the euro before a report that's likely to show U.S. consumer prices climbed in April, suggesting the Federal Reserve won't lower rates any time soon.
Traders have cut bets the Fed will reduce borrowing costs, pushing the two-year Treasury yield to a four-week high. The spread with the equivalent German bund has risen from a 2 1/2-year low last month, when the U.S. currency dropped to the weakest ever against the euro. The Fed reiterated after its May 9 meeting the primary concern was the risk of faster inflation.
Read more at Bloomberg Currencies News
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