Dollar steady ahead of inflation data; euro eases on ECB rate cut hopes
Published by
Reuters UK
Reuters UK
By Brigid Riley TOKYO (Reuters) – The U.S. dollar held firm on Friday after rising overnight, as traders weighed how domestic GDP data that surprised to the upside would impact the Federal Reserve’s rate path and awaited key inflation data later in the day. The euro, meanwhile, was on the backfoot following the European Central Bank’s (ECB) latest monetary policy meeting on Thursday which held interest rates at a record-high 4%. In the United States, official data on advance GDP estimate showed gross domestic product in the last quarter increased at a 3.3% annualized rate, overshooting the con…