Institution: The dollar remains stable, traders seek more clues on interest rate cuts from CPI.

The US dollar held steady on Thursday as traders awaited key US CPI data to determine the Fed's rate cut path. Michalis Rousakis, G10 currency strategist at Bank of America, said, "The main event is the US CPI, with the market looking for reasons to re-adjust expectations for Fed rate cuts and push the dollar lower." He added, "The question is whether the market can re-price expectations for Fed rate cuts, as current expectations already reflect a rate cut in September or even more, and almost priced in expectations for three rate cuts before the end of the year." Bank of America itself predicts two more rate cuts this year.