Traders Increase Bets on September Fed Rate Cut After U.S. CPI Release

According to BlockBeats, following the release of the U.S. Consumer Price Index (CPI), traders have intensified their bets on a Federal Reserve rate cut in September. There is also continued speculation that the Fed will reduce rates in both September and December.

In response to the CPI announcement, spot gold prices saw a short-term increase of over $10. Meanwhile, the U.S. Dollar Index (DXY) experienced a brief decline of more than 30 points, settling at 98.25.