The dollar is stronger against the euro and most major currencies ahead of the release of US inflation data, which is expected this afternoon.
Inflation is expected to increase slightly in June to 8.8%, whilst core inflation is expected to slow slightly. If these predictions are met, they are likely to reinforce expectations that the Federal Reserve will hike interest rates at upcoming monetary policy meetings.
The Federal Reserve will also release its Beige Book later, which is a summary of economic conditions in the US.
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