Fed, Dollar
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The dollar eased on Friday as a data-heavy week wound down, keeping the case for a September Federal Reserve interest rate cut intact, while traders awaited talks in Alaska between Donald Trump and Vladimir Putin regarding Ukraine.
The dollar remained weaker after U.S. inflation data on Tuesday cemented expectations for the Federal Reserve to resume cutting interest rates in September. The data showed annual inflation held at 2.
Gold extended gains to a third session on Thursday, supported by rising expectations of an interest rate cut by the U.S. Federal Reserve in September following tame inflation data, which also weighed on the dollar.
The U.S. dollar languished at multi-week lows versus major peers on Thursday as traders ramped up bets for the Federal Reserve to resume reducing interest rates next month.The greenback fared worst against the yen after U.