Dollar Drifts as Ebbing US Inflation Sets the Stage for Rate Cuts

FOREX - SINGAPORE. The dollar was soft on Thursday, with the euro perched near an eight-month high after data showed U.S. inflation was slowing, underpinning wagers that the Federal Reserve could lower borrowing costs next month.

The yen was steady at 147.315 per dollar after data showed Japan's economy expanded by a faster-than-expected annualised 3.1% in the second quarter due to a solid pickup in consumption, keeping another near-term rate hike on the table.