Dollar is showing renewed strength in Asian session, particularly against commodity currencies. Market reactions to the televised debate between US President Joe Biden and former President Donald Trump have been muted, with traders shifting their focus to upcoming inflation data. Both headline and core PCE inflation are expected to dip to 2.6% in May. For Fed to consider lowering interest rates, disinflation needs to show consistent progress for several more months. Currently, Fed fund futures indicate around a 65% chance of a 25bps rate cut in September... |