US inflation data weakens dollar
The article discussed the stability of the US dollar near its two-month low, as investors awaited the upcoming US inflation data this week. Although the dollar index fell to 99.6, major currencies such as the euro and the British pound experienced gains, while the yen remained away from its historic lows. Data showed that the US labor market unexpectedly lost jobs in July, which dampened expectations of a Federal Reserve interest rate hike. The likelihood of a rate increase has decreased to around 44%, as investors await upcoming inflation figures that will determine the direction of monetary policy.
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