Euro trades with caution against US Dollar in countdown to US CPI data

The Euro (EUR) trades marginally lower at around 1.1534 against the US Dollar (USD) at the start of the European trading session on Wednesday. The major currency pair edges down as investors turn cautious ahead of the United States (US) Consumer Price Index (CPI) data for July, which will be published at 12:30 GMT.

At press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades slightly higher to near 99.90.

According to estimates, the US headline CPI grew at an annual pace of 3.4%, slower than 3.5% in June. In the same period, the core CPI – which excludes volatile food and energy items – is…

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