The U.S. dollar drifted lower against its major rivals on Wednesday as data showing the nation's consumer inflation slowed more than expected in July, raising speculation that the central bank will be less aggressive with regard to interest rate hike in September.
Data from the Labor Department said the consumer price index was unchanged in July after jumping by 1.3% a month earlier. Economists had expected prices to edge up by 0.2%.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
For comments and feedback: editorial@rttnews.com