US Dollar Pauses Ahead of July CPI Report

The US Dollar Index (DXY) is trading relatively flat ahead of the July Consumer Price Index (CPI) release, expected to show a lower annual reading than June's. This could reduce rate-hike bets from the Federal Reserve and weigh on the Greenback.

Wall Street traded in the red on Tuesday, contributing to the US Dollar's pause. The US dollar was the strongest against the Swiss Franc today.

The July CPI report is expected to show a lower annual reading, which could reduce rate-hike bets from the Federal Reserve and weigh on the Greenback. Meanwhile, Iranian Security Chief Mohsen Rezai asked the US to fulfill all of Iran's conditions to end the war, including freeing blocked funds and assets.