India, Aug. 13 -- The U.S. dollar continued to trade lower against other major currencies in the European session on Wednesday, as the U.S. Consumer Price Index data from July has raised expectations that the Fed would lower interest rates in September.
U.S. Treasury Secretary Scott Bessent wants the Fed to keep the door open to a larger, 50 basis-point rate cut next month following recent weak job growth revisions.
European stock markets traded higher amid expectations of a rate cut by the Federal Reserve next month, and on hopes that the impact of tariffs on growth will be less severe than feared earlier.
The CME FedWatch tool shows that markets are now putting in almost 94% odds of a Fed rate drop at the September meeting, up from 86%...