Anna 
On Thursday, the U.S. dollar saw modest gains, trading within a narrow range as investors awaited crucial U.S. inflation data scheduled for next week. Meanwhile, the British pound slipped ahead of the Bank of England’s policy-setting meeting.
At 04:35 ET (08:35 GMT), the Dollar Index, which measures the greenback against a basket of major currencies, rose 0.2% to 105.605, recovering from last week’s one-month low.
The dollar has found stability this week following significant losses last week, as several Federal Reserve officials have downplayed expectations of imminent rate cuts.
Minneapolis Fed President Neel Kashkari hinted on Tuesday that persistent inflation and a strong economy could prompt the Fed to maintain interest rates unchanged for the remainder of the year.
On Wednesday, Fed Bank of Boston President Susan Collins echoed this sentiment by suggesting that the U.S. economy needs to cool down to bring inflation back in line with target levels.
More Fed speakers are scheduled for Thursday and Friday, alongside the release of weekly jobless claims data.
Despite ongoing market activity, trading ranges are expected to remain narrow as traders brace for next week’s key economic releases, notably the April U.S. producer price index and consumer price index (CPI). The CPI data, in particular, will be closely monitored for indications of inflation trends aligning with the Fed’s target rate of 2%.
