Dollar Weakens After July CPI Report

The dollar weakened Wednesday after the July consumer-price index showed that inflation wasn't as aggressive as economists had hoped, falling to session lows against the yen and euro soon after the data was released. The dollar traded at 124.16 yen from 124.40 yen shortly before the report. The euro rose to $1.1075 from $1.1030, and the pound strengthened to $1.5685 from $1.5655. But the dollar soon trimmed most of its losses.