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  • Business
    Reuters

    Rupee inches up on foreign banks' dollar sales, uptick in Asia FX

    The Indian rupee was mildly stronger on Wednesday, aided by gains in most Asian currencies ahead of a key U.S. inflation report which is expected to influence investor expectations of when the Federal Reserve will begin to cut policy rates. The rupee was at 83.49 against the U.S. dollar as of 10:05 a.m. IST, marginally higher than its previous close at 83.51. The dollar index was down 0.1% at 104.9, while most Asian currencies rose.

  • Business
    Reuters

    Dollar slides after US CPI rises less than expected

    NEW YORK/LONDON (Reuters) -The dollar fell on Wednesday after U.S. consumer prices rose less than expected in April, indicating inflation has resumed a downward trend in the second quarter in a report that raised hopes the Federal Reserve may cut interest rates in September. Also boosting optimism that the Fed was closer to a rate cut was a reading of U.S. retail sales that was unexpectedly flat last month, as higher gasoline prices pulled spending away from other goods in a sign the consumer was retrenching a bit. After inflation proved "sticky" in the first quarter, with various reports containing housing prices and other data that remained stubbornly high, the market welcomed the CPI news.

  • Business
    Reuters SG

    EMERGING MARKETS-Asian FX and stocks hit pause as focus turns to US inflation data

    Traders remained wary ahead of the upcoming core U.S. inflation data, with consumer prices expected to have risen by 0.3% last month, down from 0.4% in March, according to a Reuters poll. A slowdown in inflationary pressures from March could boost wagers the Federal Reserve will cut rates as soon as July, and could potentially nudge U.S. Treasury yields and the greenback lower. The Philippine central bank is set to announce its monetary policy decision on Thursday, with expectations leaning towards no change in interest rates.