1532 ET – The dollar weakens as mild inflation data boost confidence that the Fed’s tightening cycle is about to end. The WSJ Dollar Index falls 0.5%, the largest decline in nearly a month. The dollar weakens 0.7% versus the euro and 0.5% versus the pound and the yen. The FOMC minutes did little to support the greenback. “Hawks and doves may begin to spar publicly,” Santander’s Stephen Stanley says in a note about the minutes. “This could be yet another source of volatility in the markets in the coming months.” (paulo.trevisani@wsj.com; @ptrevisani)
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