Cooling US CPI data for July spurs dollar weakness, lifting the euro after a three-day decline in the currency pair.
EUR/USD climbed to 1.1530 in Asian trading on Thursday, ending a three-day losing streak as the US dollar weakened. The move followed the release of July’s Consumer Price Index, which signaled cooling inflation pressures in the US.
The pair had declined for three consecutive sessions prior to the rebound. Market expectations had centered on a modest pullback in inflation, aligning with the reported data. Comparable periods showed similar reactions to softer inflation prints, often triggering dollar sell-offs.
No immediate market reaction details were provided, but the shift reflects broader sentiment around Federal Reserve policy expectations.