UK inflation the main highlight of the agenda today ...Middle East

Major currencies are looking rather muted and understandably so. Today will be more of a placeholder trading day with it being a US holiday. That makes for kind of a weird week as we have a bit of a recess in the middle.The dollar is keeping more mixed overall on the week while risk sentiment is staying more optimistic, at least in Wall Street. Tech shares continue to drive stocks higher but we'll get a bit of a breather today.Looking to European trading, UK inflation is the main item on the agenda. We'll be getting the numbers for May and the estimates show that headline annual inflation is expected to fall back to the 2.0% level. But it's a bit too late to convince the BOE to move tomorrow

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