#communityAMA Forex Today: What You Need to Know on May 28, 2025 US Dollar extends recovery ahead of FOMC Minutes Here's a re-crafted version of the Forex news, aiming to avoid direct duplication and incorporating a slightly different perspective: **Forex Market Update: Dollar's Ascent Continues as Investors Await Fed Minutes** The US Dollar is maintaining its upward trajectory against other major currencies as Wednesday's European trading session gets underway. Market participants are keenly focused on the upcoming release of the Federal Open Market Committee (FOMC) minutes from their May meeting. On the economic front, Germany is set to release its April unemployment figures. Later in the day, the US Treasury will conduct its 5-year note auction, followed by the highly anticipated Fed minutes. In the overnight session, the Reserve Bank of New Zealand (RBNZ) lowered its official cash rate by 25 basis points to 3.25%, a move that was widely anticipated. The RBNZ also adjusted its projected policy rate for September 2025 downward. RBNZ Acting Governor Christian Hawkesby emphasized that the central bank isn't locked into a pre-set course of action and that inflation is currently within their target range. Despite an initial dip, the NZD/USD pair recovered slightly, trading above 0.5950. Fueling the dollar's strength, the USD Index rose by approximately 0.6% on Tuesday, reflecting positive sentiment surrounding the US economic outlook. The 10-year US Treasury yield experienced a notable decline, suggesting strong demand, while the S&P 500 Index posted a gain of over 2%. The USD Index is holding above the 99.50 level. Elsewhere, Reuters reported that the Japanese Ministry of Finance intends to modify its bond issuance strategy by reducing the volume of super-long bonds issued during the current fiscal year. Bank of Japan (BoJ) Governor Kazuo Ueda reiterated concerns about the uncertainty stemming from ongoing tariff negotiations between the US and Japan. The USD/JPY pair is trading just above 144.00. The EUR/USD pair weakened, trading near 1.1300, while GBP/USD is under pressure below the 1.3500 mark. Gold experienced a decline and appears to have found some stability above \$3,300.