On Wednesday, the dollar rose to three-month highs versus the euro, but international markets fell as a rise in US inflation fueled expectations of a faster conclusion to Federal Reserve stimulus, while a dip in China’s crude imports dampened oil. The consumer price index in the United States jumped 0.9 percent in June, exceeding market expectations and marking the highest gain since June 2008. Investors will also be watching Fed Chair Jerome Powell’s semi-annual testimony to Congress on Wednesday and Thursday for fresh signals on whether the Fed would take more aggressive efforts to combat rising inflation./n
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