Cooling US inflation figures weaken the USD, lifting the EUR/USD pair to near 1.1535 in early Asian trading.
The EUR/USD pair rose to 1.1535 during early Asian trading on Friday, extending gains above 1.1500. The move follows softer-than-expected US inflation data, which weighed on the US Dollar (USD) against the Euro (EUR).
Prior to the release, the USD had shown resilience, but the latest inflation figures fell short of market expectations, reducing bets on aggressive Federal Reserve tightening. The pair had traded below 1.1500 earlier in the week.
Later on Friday, US July Retail Sales data will be closely watched for further direction on the USD’s trajectory.