Dollar takes a beating as traders see US rates peaking
The moves were small, yet showed traders’ faith the dollar has further to fall. The yuan touched a one-month high at 7.1604 to the dollar in offshore trade. Sterling and Swiss franc were testing overnight highs. U.S. core inflation came in at 0.2% in June against market expectations for 0.3%. Headline annual CPI fell to 3% and has been dropping since hitting a peak at 9.6% a year earlier.
