Asian shares rose and the dollar fell to a two-month low on Wednesday, ahead of U.S. inflation data that may indicate the Federal Reserve is ending its aggressive rate rise approach.

The Japanese yen rose against most major currencies, reaching 139.43 versus the dollar.

The MSCI’s broadest Asia-Pacific ex-Japan index increased 0.61%, while Australia’s S&P/ASX 200 index rose 0.54%.

Nikkei fell 1%. Reuters surveyed economists predict June’s consumer price index to rise 3.1% after May’s 4% gain, the lowest since March 2021.

The core CPI is forecast to dip for a third month to 5% from 5.3%.

Fed policymakers anticipate to raise rates by at least 50 basis points to combat pricing pressures.

China shares fell 0.14%, and Hong Kong’s Hang Seng Index climbed 0.5%.

China extended real estate policy through 2024 on Monday, raising hopes for additional stimulus.

Wall Street’s major banks, JPMorgan, Citigroup, and Wells Fargo, will report second-quarter profits this week.

Wall Street banks are expected to post stronger second-quarter earnings as soaring interest payments offset an agreements process will slowing down.

Analysts have slashed projections in recent weeks, making it easier for corporations to beat second-quarter expectations.