Global shares edged higher and the dollar held near three-week lows on Wednesday as traders were all but certain that the U.S. Federal Reserve will refrain from hiking interest rates later in the session.
Overnight, the much-watched U.S. CPI report showed prices barely rose in May, with just a 0.1 percent increase from the prior month. On an annual basis, consumer prices rose 4 percent, the smallest in more than two years, slowing from April’s 4.9 percent.
That has crystallised traders’ views that the Fed is unlikely to hike rates later on Wednesday. They now see more than a 90 percent chance of the bank staying put….