Summary

• The dollar is mostly firmer today, but the Swiss franc and Japanese yen are bucking the trend.
• The offshore yuan rose to a new three-year high today. The greenback was sold to CNH6.7540.
• The median forecast in Bloomberg’s survey is for retail sales to have risen by 0.5% in May, the same as in April.

Subdued activity mostly characterizes the capital markets today, ahead of the session's highlight, the outcome of the FOMC meeting that Kevin Warsh will chair for the first time. Given his criticisms of the central