The U.S. dollar traded higher against most of the major currencies on Tuesday despite weaker new home sales and cautious comments from Federal Reserve Chairman Powell. Along with his peers, Powell made it clear that they see only a temporary rise in inflationary pressures. Treasury Secretary Janet Yellen avoided market moving comments in their closely watched testimony. For the next 24 hours the focus shifts to Europe where PMI reports are scheduled for release. This is a busy week for the British pound. Today’s labor market report will be followed by inflation and PMI numbers on Wednesday and retail sales on Friday. ... (full story)