USD review

Western Union:

The dollar's upturn since mid-May suffered a setback Tuesday as a turn for the better in Europe rewarded the single currency with a rally. Concrete signs of the U.S. economy healing from its first quarter contraction should help limit the dollar's fall. 

Of critical importance for the dollar and the outlook for higher U.S. interest rates will be Friday's jobs report. Forecasts call for a gain of 225,000 jobs in May and unemployment to hold at 5.4%, a seven-year low.