Dollar on front foot as traders await U.S. inflation data for Fed cues

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Reuters UK

By Alun John HONG KONG (Reuters) – The dollar was at a two-week high on the euro on Friday, ahead of inflation data that should guide the Federal Reserve’s policy tightening path, and after the European Central Bank said it would start its rate-hike campaign next month. U.S. core consumer price growth is expected to cool a fraction, data later in the global day is set to show. Such an outcome would provide some reassurance to those hoping decades-high inflation had peaked in March and that the April pullback was not a one-off. This could give the Fed some wiggle room to raise rates less aggres…

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