Dollar continues its struggle to find direction, and stay in familiar range against most major currencies except against Swiss Franc. Markets shift their focus to the upcoming release of April US PCE data for guidance. Currently Fed fund futures are indicating a 50/50 chance of a rate cut by September. Recent comments from Fed officials hinted at the unlikelihood of further rate hikes. However, Fed's outlook and market sentiment could shift dramatically if today's data suggests re-acceleration of inflation. But absent significant surprises, attention is likely to turn to next week's employment figures.