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Dollar firm as markets assess ambiguous US inflation data

Published by
Reuters UK

By Brigid Riley TOKYO (Reuters) -The dollar held steady against other major currencies on Friday, as investors weighed an ambiguous U.S. consumer price inflation report against market bets that the Federal Reserve will cut rates as soon as March. U.S. consumer prices increased in December as rents maintained their upward trend, edging 0.3% higher for the month and up an annual 3.4%, versus economists’ forecast in a Reuters poll for a 0.2% gain and 3.2% rise, respectively. Still, traders are pricing in a 73.2% chance for the Fed’s first 25 basis point (bps) cut to come in March, with several mo…

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