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Stocks climb, dollar falls after inflation data

Mount Equity Group Tokyo Japan > News > Markets > Stocks climb, dollar falls after inflation data
  • Wall Street rallies with Nasdaq leading gains
  • CPI was flat in July after rising 1.3% in June
  • In 12 months through July, CPI rose 8.5% vs 9.1% in June

NEW YORK, Aug 10 (Reuters) – Wall Street equities rallied and the dollar tumbled after signs of sharply decelerating U.S. inflation prompted bets that the Federal Reserve would raise interest rates at a slower pace than previously expected.

While Treasury yields since regained some ground, they had tumbled after data showed consumer prices did not rise in July as the cost of gasoline fell, delivering the first notable sign of relief for Americans who have watched inflation soar over the past two years. read more

Traders priced in a 50 basis points rate hike next month, compared with the 75 bps increase that had been expected before inflation report. read more

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