Dollar Halts Downtrend Ahead Of US Business Inventories Report

The Commerce Department is also scheduled to release its business inventories report for April at 10 am ET. The report is expected to show a 0.3 percent increase in business inventories for the month following a 0.4 percent increase in the previous month.

The US dollar paused its recent downtrend against other major currencies ahead of the report. As of 9:55 am ET, the greenback was trading at 1.5610 against the pound, 78.78 against the yen, 1.2230 against the euro and 0.9825 against the Swiss franc.