08:00 AM EDT, 05/20/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Tuesday, when appearances by Federal Reserve officials again populate the calendar.

The Philadelphia Fed is expected to release its nonmanufacturing reading for May at 8:30 am ET, followed by weekly Redbook same-store sales at 8:55 am ET.

Richmond Fed President Tom Barkin is due to speak at 9:00 am ET, at the same time as Atlanta Fed President Raphael Bostic.

Boston Fed President Susan Collins is expected to speak at 9:30 am ET, followed by St. Louis Fed President Alberto Musalem at 12:45 pm ET, Fed Governor Adriana Kugler at 5:00 pm ET, and a joint discussion between Bostic, San Francisco Fed President Mary Daly and Cleveland Fed President Beth Hammack at 7:00 pm ET.

A quick summary of foreign exchange activity heading into Tuesday:

EUR/USD rose to 1.1249 from 1.1241 at the Monday US close but was below a level of 1.1274 at the same time Monday morning. The Eurozone current account surplus widened in March while Eurozone construction output rebounded in the same month, data released earlier Tuesday showed. Eurozone consumer confidence data for May are scheduled to be released at 10:00 am ET. The next European Central Bank meeting is scheduled for June 4-5.

GBP/USD rose to 1.3367 from 1.3361 at the Monday US close but was below a level of 1.3387 at the same time Monday morning. There are no UK data on Tuesday's schedule, but Bank of England Chief Economist Huw Pill said overnight he believes the pace of the BoE's rate cuts has been too rapid due to continued price pressures, according to Reuters. Pill voted for no reduction at the BoE's most recent meeting May 8. The next Bank of England meeting is scheduled for June 19.

USD/JPY fell to 144.5293 from 144.8210 at the Monday US close and 144.8709 at the same time Monday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for June 16-17.

USD/CAD fell to 1.3945 from 1.3954 at the Monday US close and 1.3948 at the same time Monday morning. Canadian consumer price index data for April are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for June 4.