The US Dollar is experiencing a downward trend against its major counterparts this Wednesday. Following moderate inflation figures from the US, market participants are adjusting their expectations towards a potential interest rate cut by the Federal Reserve after summer. July’s Consumer Price Index (CPI) demonstrated steady yearly inflation at 2.7%, defying predictions that hinted at a slight uptick to 2.8%.

This shift in sentiment comes as traders reassess their strategies, viewing the US Dollar’s current position against the Japanese Yen with caution. The pivotal support level to watch is 147.00, where a breach could signal further declines for the greenback.