Washington: The dollar weakened on Wednesday following a tame reading on U.S. inflation, which bolstered expectations of a Federal Reserve rate cut next month. President Donald Trump’s attempts to extend his influence over U.S. institutions also contributed to undermining the currency.
According to Radio Television Brunei, U.S. consumer prices increased marginally in July, as shown by data released on Tuesday. This was in line with forecasts and indicates that the impact from Trump’s sweeping tariffs on goods prices has been limited so far.