Dollar Under Pressure as Fed Looks Poised to Cut While EU Holds

1430 ET – The dollar weakens amid bets on interest rate cuts by the Fed. The ECB kept its rates steady and the BoE is likely to do the same next week, according to BNP Paribas, while the Fed looks poised to resume monetary easing with a 25-basis-point trim. Futures price in at least three Fed cuts this year. 1256 GMT – The dollar falls after U.S. inflation data met forecasts, doing little to change expectations that the Federal Reserve will resume cutting interest rates this month.

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