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🖥️DOLLAR STABILIZES NEAR 105 MARK

🖥️DOLLAR STABILIZES NEAR 105 MARK

Day: 11 | Time: 04:23:15 The dollar has stabilized just below the 105 mark as traders await US inflation data that could influence the Federal Reserve's interest rate cuts. June's Consumer Price Index is expected to show a 0.1% increase from May, with the Core Consumer Price Index rising by 0.2%. Fed Chairman Jerome Powell has stated that the central bank will not wait for inflation to reach 2% before cutting rates, but needs stronger data showing that inflation is moving sustainably towards 2%. Markets are now predicting a 70% chance of a Fed rate cut in September, with another reduction expected by the end of the year. Meanwhile, the dollar remains under pressure against the pound after Bank of England officials signaled that there will not be a rate cut in August.