The US dollar index stabilized against a basket of currencies in the wake of US inflation data, which came in line with market expectations boosted the Fed's view of gradually raising interest rates in the short term.
The core consumer price index excluding food and energy prices rose by 0.2% in May on a monthly basis, while the core consumer price index rose by 2.2% YoY. The dollar index remained within the 93 levels and did not move much after the data.
The bilateral summit between US President Donald Trump and North Korean leader Kim Young was held today, pledging to renounce the Korean Peninsula's nuclear weapons with security guarantees from the US side.
Markets are awaiting tomorrow's Fed decision and it is widely expected that interest rates will be raised to 2%. Eyes will also be on Fed’s projections for interest rate and inflation as well as the press conference of Federal Reserve Chairman Jerome Powell.
