Euro Gains as US Dollar Retreats Despite Firm PCE Inflation
EUR/USD edged higher near 1.1380 on Thursday as the US dollar lost momentum despite sticky PCE inflation and resilient US economic data, while a slight improvement in German sentiment provided additional support.
EURUSD
The euro strengthened against the US dollar on Thursday, with EUR/USD trading with mild gains near 1.1380. The greenback retreated even as fresh US economic data showed persistent inflation, stronger growth, and a resilient labor market.
On the European side, German sentiment improved slightly, adding to the euro's bid. Market participants are weighing the implications of firm US PCE inflation against the softer dollar tone, keeping the pair in a narrow range.
Source: FXStreet Forex News