of 0.8% in the second quarter, above the 0.5% forecast, while the annual pace slowed more than expected to 6.3%, well below expectations for a reading of 7.3%.
The dollar, which fell 0.1% against a basket of major currencies on Monday, staged its biggest weekly fall of 2023 last week, dropping 2.3%, as traders rushed to price out the chance of a September rate rise. "I just can't help but think we have gone a little bit too far too fast ... one cooler inflation number doesn't exactly mean the Fed are done and dusted and not going to hike again," TraderX strategist Michael Brown said.
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