Forex
Dollar Bounces Amid Weaker Inflation Data
The US dollar experienced a minor drift on Thursday, following a more benign reading of consumer inflation. This development led traders to reassess the likelihood of a Federal Reserve rate hike in September.
Despite this, the dollar gained 0.4% against a basket of major currencies, marking its first weekly ascent in three weeks. Trading remained subdued due to the typical August lull.
Recent data showed consumer prices edged up by 0.1% in July, aligning with economist forecasts and reducing the perceived chance of a rate hike next month.