US dollar stable; NZD/USD at 0.5880; Fed expected to cut rates in September due to in-line inflation data.

The US dollar remained stable, with the NZD/USD at 0.5880, as US inflation data was in line with expectations, indicating a possible Fed easing cycle in September. US real consumption rose 0.2% in June, while the PCE price deflator remained stable. The US dollar index fell marginally, and currency markets experienced subdued activity. The Fed is expected to cut rates in their September meeting, based on the inflation data.