Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Chart - Courtesy Trading View
Data released by the Bureau of Labour Statistics earlier on Wednesday showed that the headline US CPI remained flat in July against the 0.2% rise anticipated.
The yearly rate decelerated to 8.5% during the reported month, also missing estimates pointing to a fall to 8.7% from the 9.1% in June.
Further, core inflation came in at 0.3% MoM and held steady at a 5.9% YoY rate vs 0.5% and 6.1% expected, respectively.
A weaker US CPI report pushed back expectations for a larger Fed rate hike and weighed on the USD.
USD/JPY plunged back into the daily cloud, hit weekly low at 132.66 before paring some losses to trade at 133.25 at around 13:12 GMT.
