U.S. underlying inflation firming; labour market tightening
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WASHINGTON (Reuters) - U.S. underlying consumer prices increased by the most in nearly 1-1/2 years in June amid solid gains in the costs of a range of goods and services, but that will likely not change expectations the Federal Reserve will cut interest rates this month.Signs of a pick-up in underlying inflation, together with a strong labour market could, however, temper expectations that the Fed will lower borrowing costs at least twice this year. A rate cut at the July 30-31 policy meeting,..