The dollar held in a narrow range on Wednesday after U.S. inflation data landed where markets expected, reinforcing the view that the report did little to change the Federal Reserve's near-term policy path. Bureau of Labor Statistics figures showed headline CPI and core CPI (excluding food and energy) matched consensus forecasts, while OCBC Bank analysts said the lack of surprise left the greenback without a fresh directional catalyst. CME Group's FedWatch tool indicates a moderate chance of a rate cut at the next Federal Open Market Committee meeting, but OCBC said upcoming employment and retail sales data, Fed commentary and geopolitical risks are more likely to drive the dollar from here. The bank added that firmer U.S. economic performance than Europe and Asia has supported the currency in recent months, and safe-haven demand could provide further backing if global risks intensify.