Asian currencies consolidated against the U.S. dollar in early trading after July U.S. inflation data showed headline CPI easing to 3.4% year on year and core CPI rising 2.5%. The figures kept inflation above the Federal Reserve’s 2% target, but also extended the gradual cooling in core prices from May’s 2.9% peak. MUFG Bank’s Michael Wan said the Federal Open Market Committee, or FOMC (Federal Reserve policy-setting committee), is likely to keep policy restrictive in September rather than move toward another rate increase. In market moves, the U.S. dollar fell 0.2% to 1414.40 won, was little changed at 159.40 yen, and the Australian dollar slipped 0.2% to US$0.7050, according to LSEG data.