The US dollar fell against most major rivals on Wednesday following weaker than expected inflation data, which boosted the odds of a Fed rate cut soon.

Earlier US data showed core consumer prices rose 2.8% y/y in May, as expected.

The US and China reached a trade framework in London after two days of intensive negotiations, with representatives waiting for the final approval of Trump and Xi Jinping to move forward.

This progress comes after an important deal reached in mid May, which stopped the enforcement of most tariffs for 90 days.

Trump said China will supply rare-earth minerals and magnets to the US, and will get chip exports from America, with restrictions on Chinese students in US universities will be lifted as well.

Otherwise, the dollar index fell 0.5% as of 20:43 GMT to 98.6, with a session-high at 99.2, and a low at 98.5.

Aussie

The Australian dollar fell 0.3% as of 21:23 GMT to 0.65 against its US counterpart.

Loonie

The Canadian dollar stabilized at 0.7315 against its US counterpart.