The dollar slipped for a second straight session on Wednesday, a day after a U.S. inflation reading increased expectations of a Federal Reserve rate cut next month and renewed pressure from President Donald Trump for lower rates added to the sell-off.

U.S. stocks turned mixed in Wednesday afternoon trading, and one reason may have to do with concerns over the timeline of expected interest-rate cuts from the Federal Reserve. Fed-funds futures traders currently expect rate cutting to begin by October,

Scott Helfstein, head of investment strategy at Global X, added that there’s “little evidence” tariffs are causing a meaningful rise in inflation at this point, noting that shelter and energy services like electricity and piped gas remain primary drivers.