The dollar reacts to the US inflation report - US consumer prices fell for the first time in six years in June, while the key measure of core inflation remained virtually unchanged, somewhat easing pressure on the FR to raise interest rates.

Oil at $120: will this force the Bank of England to raise rates? - The Bank of England is likely to keep interest rates unchanged at its meeting on July 30, despite rising energy prices, according to a research note from ING Economics published on Monday.