The Euro trades above 1.1500 USD, poised for its strongest weekly gain in nearly four months as markets await key inflation data.
The Euro remains above 1.1500 USD against the Dollar, trading near six-week highs after a 1.3% weekly rally. The currency’s strength reflects market positioning ahead of Eurozone inflation figures due later today.
This week’s performance marks the Euro’s best since early April, supported by expectations of persistent price pressures in the bloc. Analysts anticipate the data could influence the European Central Bank’s rate path, with recent prints showing inflation above target.
EUR/USD dipped slightly in early trading but held firm above 1.1500, with traders awaiting the release for directional cues.