US dollar flat after softer US inflation data
The US dollar remained flat against major currencies following a smaller than expected increase in inflation. The softer data lowered market expectations for a Federal Reserve interest rate hike. Despite the daily pause, the greenback remains on track for monthly gains.
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The United States dollar held steady against major currencies on Wednesday afternoon following a softer-than-expected inflation reading that trimmed market bets on a Federal Reserve rate hike. The greenback remains on track for monthly gains despite the post-data pullback. Traders pared back expectations as yields across the curve shifted.
