US inflation rose in July from 3.0 percent to 3.2 percent, but remained below consensus expectations of 3.3 percent.

This reading, Nicolas Sopel, head of macro research and chief strategist at Quintet Private Bank, said may “some pressure on the Fed to raise interest rates further this year”.

It is now expected the US Federal Reserve will hold interest rates in September and “remain careful as the balance of risks for inflation slightly tilts to the upside for the sec...